Robinhood Markets, Inc. (NASDAQ:HOOD) Receives $21.10 Consensus Target Price from Analysts

Robinhood Markets, Inc. (NASDAQ:HOOD) has been given an average recommendation of “Hold” by the sixteen research firms that are currently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $21.23.

Several brokerages have weighed in on HOOD. Morgan Stanley lifted their price objective on shares of Robinhood Markets from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Friday, May 10th. Citigroup lifted their price objective on shares of Robinhood Markets from $16.00 to $18.00 and gave the stock a “sell” rating in a research note on Thursday, June 13th. Keefe, Bruyette & Woods initiated coverage on shares of Robinhood Markets in a research note on Wednesday, April 3rd. They issued a “market perform” rating and a $20.00 price objective for the company. Bank of America upgraded shares of Robinhood Markets from an “underperform” rating to a “buy” rating and boosted their target price for the company from $14.00 to $24.00 in a research report on Friday, May 17th. Finally, Piper Sandler boosted their target price on shares of Robinhood Markets from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Tuesday, July 9th.

Insiders Place Their Bets

In other news, Director Baiju Bhatt sold 120,236 shares of the company’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $22.20, for a total value of $2,669,239.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $17.83, for a total value of $222,875.00. Following the sale, the insider now directly owns 854,995 shares of the company’s stock, valued at approximately $15,244,560.85. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Baiju Bhatt sold 120,236 shares of the company’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $22.20, for a total transaction of $2,669,239.20. The disclosure for this sale can be found here. Insiders have sold 1,597,802 shares of company stock valued at $32,145,874 in the last ninety days. 19.95% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Robinhood Markets

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Robinhood Markets by 4.5% during the 3rd quarter. Vanguard Group Inc. now owns 57,261,184 shares of the company’s stock valued at $561,732,000 after acquiring an additional 2,459,702 shares during the period. ARK Investment Management LLC lifted its position in shares of Robinhood Markets by 6.4% during the 4th quarter. ARK Investment Management LLC now owns 34,936,204 shares of the company’s stock valued at $445,087,000 after acquiring an additional 2,101,325 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Robinhood Markets by 9.4% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 29,205,693 shares of the company’s stock valued at $372,081,000 after acquiring an additional 2,517,012 shares during the period. Nikko Asset Management Americas Inc. lifted its position in shares of Robinhood Markets by 9.6% during the 4th quarter. Nikko Asset Management Americas Inc. now owns 28,297,822 shares of the company’s stock valued at $360,514,000 after acquiring an additional 2,486,986 shares during the period. Finally, Norges Bank acquired a new position in shares of Robinhood Markets during the 4th quarter valued at $84,165,000. 93.27% of the stock is owned by institutional investors.

Robinhood Markets Stock Performance

Shares of HOOD stock opened at $23.41 on Monday. The company has a market capitalization of $20.57 billion, a price-to-earnings ratio of 156.07 and a beta of 1.84. The company has a 50-day simple moving average of $21.75 and a 200 day simple moving average of $17.58. Robinhood Markets has a 52 week low of $7.91 and a 52 week high of $24.88.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, May 8th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.05 by $0.13. The business had revenue of $618.00 million during the quarter, compared to the consensus estimate of $552.74 million. Robinhood Markets had a net margin of 6.22% and a return on equity of 1.86%. Robinhood Markets’s revenue was up 40.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.57) EPS. Sell-side analysts forecast that Robinhood Markets will post 0.55 EPS for the current year.

About Robinhood Markets

Robinhood Markets, Inc operates financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds (ETFs), American depository receipts, options, gold, and cryptocurrencies. The company offers fractional trading, recurring investments, fully-paid securities lending, access to investing on margin, cash sweep, instant withdrawals, retirement program, around-the-clock trading, and initial public offerings participation services.