Piper Sandler Raises Robinhood Markets (NASDAQ:HOOD) Price Target to $27.00

Robinhood Markets (NASDAQ:HOOD) had its target price hoisted by Piper Sandler from $23.00 to $27.00 in a report released on Thursday morning, Benzinga reports. They currently have an overweight rating on the stock.

Several other research analysts have also recently weighed in on the company. Barclays upgraded Robinhood Markets from an underweight rating to an equal weight rating and increased their price objective for the stock from $18.00 to $20.00 in a research report on Friday, September 6th. Citigroup raised shares of Robinhood Markets from a sell rating to a neutral rating and set a $18.00 target price for the company in a research report on Monday, August 5th. Needham & Company LLC reissued a hold rating on shares of Robinhood Markets in a research report on Thursday, August 8th. Morgan Stanley boosted their target price on shares of Robinhood Markets from $20.00 to $21.00 and gave the company an equal weight rating in a research report on Wednesday, August 14th. Finally, Wolfe Research raised shares of Robinhood Markets from a peer perform rating to an outperform rating and set a $29.00 target price for the company in a research report on Wednesday, June 26th. One research 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.com, Robinhood Markets currently has a consensus rating of Hold and an average price target of $23.10.

Robinhood Markets Stock Performance

NASDAQ HOOD opened at $22.73 on Thursday. Robinhood Markets has a 52-week low of $7.91 and a 52-week high of $24.88. The stock has a market cap of $19.98 billion, a PE ratio of 151.53 and a beta of 1.82. The firm has a 50-day moving average of $20.59 and a 200-day moving average of $19.98.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.05. The company had revenue of $682.00 million during the quarter, compared to analysts’ expectations of $640.39 million. Robinhood Markets had a return on equity of 4.25% and a net margin of 12.96%. The business’s revenue was up 40.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.03 earnings per share. As a group, analysts predict that Robinhood Markets will post 0.76 EPS for the current fiscal year.

Insiders Place Their Bets

In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $16.05, for a total transaction of $4,012,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Robinhood Markets news, Director Baiju Bhatt sold 143,944 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $18.73, for a total transaction of $2,696,071.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $16.05, for a total value of $4,012,500.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,204,096 shares of company stock valued at $23,603,793. 19.95% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. increased its stake in shares of Robinhood Markets by 46.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock valued at $29,000 after buying an additional 722 shares during the period. ORG Partners LLC acquired a new position in shares of Robinhood Markets in the second quarter valued at approximately $33,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Robinhood Markets in the first quarter valued at approximately $34,000. International Assets Investment Management LLC acquired a new position in shares of Robinhood Markets in the second quarter valued at approximately $40,000. Finally, Opal Wealth Advisors LLC acquired a new position in shares of Robinhood Markets in the second quarter valued at approximately $45,000. Institutional investors and hedge funds 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.