Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $32.00

Robinhood Markets (NASDAQ:HOOD) had its target price hoisted by Deutsche Bank Aktiengesellschaft from $27.00 to $32.00 in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has a buy rating on the stock.

HOOD has been the subject of a number of other research reports. Morgan Stanley lifted their price objective on Robinhood Markets from $22.00 to $24.00 and gave the company an “equal weight” rating in a research note on Monday. Bank of America increased their price objective on shares of Robinhood Markets from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, August 12th. The Goldman Sachs Group decreased their target price on shares of Robinhood Markets from $25.00 to $22.00 and set a “neutral” rating for the company in a report on Friday, November 1st. Keefe, Bruyette & Woods cut their price target on shares of Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating on the stock in a report on Thursday, August 8th. Finally, Citigroup upped their price objective on Robinhood Markets from $19.00 to $23.00 and gave the company a “neutral” rating in a research report on Friday, September 27th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $26.10.

Robinhood Markets Trading Down 3.3 %

HOOD opened at $31.91 on Monday. The company has a market cap of $28.21 billion, a price-to-earnings ratio of 54.09, a price-to-earnings-growth ratio of 0.79 and a beta of 1.84. The stock has a fifty day simple moving average of $24.95 and a two-hundred day simple moving average of $22.12. Robinhood Markets has a 12-month low of $7.91 and a 12-month high of $34.32.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The business had revenue of $637.00 million for the quarter, compared to analysts’ expectations of $660.53 million. During the same period last year, the business earned ($0.09) earnings per share. The company’s revenue was up 36.4% on a year-over-year basis. On average, analysts predict that Robinhood Markets will post 0.72 EPS for the current year.

Insider Transactions at Robinhood Markets

In related news, CFO Jason Warnick sold 25,000 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $20.96, for a total value of $524,000.00. Following the transaction, the chief financial officer now directly owns 1,077,162 shares of the company’s stock, valued at approximately $22,577,315.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $19.33, for a total value of $241,625.00. Following the completion of the transaction, the insider now owns 1,045,068 shares of the company’s stock, valued at approximately $20,201,164.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Jason Warnick sold 25,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $20.96, for a total value of $524,000.00. Following the sale, the chief financial officer now directly owns 1,077,162 shares in the company, valued at approximately $22,577,315.52. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,710,549 shares of company stock worth $115,477,194 in the last 90 days. 19.95% of the stock is currently owned by insiders.

Institutional Trading of Robinhood Markets

Several institutional investors have recently made changes to their positions in HOOD. HM Payson & Co. boosted its stake 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 purchasing an additional 410 shares during the period. Eastern Bank purchased a new position in shares of Robinhood Markets in the third quarter worth $30,000. ORG Wealth Partners LLC bought a new position in shares of Robinhood Markets during the third quarter worth $33,000. ORG Partners LLC purchased a new position in Robinhood Markets during the second quarter valued at $33,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in Robinhood Markets in the 1st quarter valued at $34,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

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.