Robinhood Markets (NASDAQ:HOOD) Price Target Lowered to $22.00 at The Goldman Sachs Group

Robinhood Markets (NASDAQ:HOOD) had its price target lowered by The Goldman Sachs Group from $25.00 to $22.00 in a report issued on Friday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other research analysts also recently issued reports on the company. JMP Securities boosted their price objective on Robinhood Markets from $30.00 to $33.00 and gave the company a “market outperform” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. boosted their price target on Robinhood Markets from $17.00 to $21.00 and gave the company an “underweight” rating in a research note on Thursday, October 17th. Morgan Stanley lifted their price objective on shares of Robinhood Markets from $21.00 to $22.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Deutsche Bank Aktiengesellschaft upped their price target on Robinhood Markets from $24.00 to $27.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Finally, Citigroup upped their target price on Robinhood Markets from $19.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, September 27th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $25.17.

Robinhood Markets Price Performance

Robinhood Markets stock opened at $24.32 on Friday. The stock’s 50 day moving average is $23.51 and its 200 day moving average is $21.51. Robinhood Markets has a one year low of $7.91 and a one year high of $28.58. The firm has a market cap of $21.52 billion, a P/E ratio of 41.22 and a beta of 1.83.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.01). The firm had revenue of $637.00 million for the quarter, compared to analyst estimates of $660.53 million. Robinhood Markets had a return on equity of 7.61% and a net margin of 21.80%. The company’s quarterly revenue was up 36.4% compared to the same quarter last year. During the same quarter last year, the company earned ($0.09) earnings per share. Equities analysts anticipate that Robinhood Markets will post 0.74 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Baiju Bhatt sold 143,944 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $18.73, for a total value of $2,696,071.12. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $19.33, for a total value of $241,625.00. Following the sale, the insider now directly owns 1,045,068 shares in the company, valued at $20,201,164.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Baiju Bhatt sold 143,944 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $18.73, for a total value of $2,696,071.12. The disclosure for this sale can be found here. Insiders sold a total of 4,389,654 shares of company stock valued at $106,229,132 in the last ninety days. 19.95% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Robinhood Markets

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HOOD. HM Payson & Co. boosted its holdings in Robinhood Markets by 53.5% in the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock worth $28,000 after buying an additional 410 shares during the period. Eastern Bank bought a new position in shares of Robinhood Markets in the third quarter worth $30,000. ORG Wealth Partners LLC purchased a new position in shares of Robinhood Markets in the third quarter valued at $33,000. ORG Partners LLC bought a new stake in shares of Robinhood Markets during the 2nd quarter valued at $33,000. Finally, Allspring Global Investments Holdings LLC purchased a new stake in Robinhood Markets during the 1st quarter worth about $34,000. Institutional investors own 93.27% of the company’s stock.

Robinhood Markets Company Profile

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.