Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $20.00 at Piper Sandler

Robinhood Markets (NASDAQ:HOOD) had its price objective raised by Piper Sandler from $18.00 to $20.00 in a report published on Tuesday, Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

Other equities analysts have also recently issued reports about the stock. The Goldman Sachs Group lifted their price target on shares of Robinhood Markets from $18.00 to $20.00 and gave the stock a neutral rating in a research report on Monday, April 15th. Bank of America raised shares of Robinhood Markets from an underperform rating to a buy rating and lifted their price target for the stock from $14.00 to $24.00 in a research report on Friday, May 17th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Robinhood Markets from $19.00 to $20.00 and gave the company a hold rating in a research report on Thursday, June 20th. Morgan Stanley boosted their price objective on shares of Robinhood Markets from $18.00 to $19.00 and gave the company an equal weight rating in a research report on Friday, May 10th. Finally, Mizuho boosted their price objective on shares of Robinhood Markets from $20.00 to $21.00 and gave the company a buy rating in a research report on Monday, May 6th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $21.10.

Robinhood Markets Stock Performance

Shares of HOOD stock opened at $22.28 on Tuesday. Robinhood Markets has a 52-week low of $7.91 and a 52-week high of $24.28. The stock has a market cap of $19.58 billion, a PE ratio of 148.53 and a beta of 1.84. The firm’s 50 day moving average price is $21.11 and its two-hundred day moving average price is $17.13.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.13. Robinhood Markets had a net margin of 6.22% and a return on equity of 1.86%. The firm had revenue of $618.00 million for the quarter, compared to analysts’ expectations of $552.74 million. During the same period last year, the firm earned ($0.57) earnings per share. The business’s revenue for the quarter was up 40.1% on a year-over-year basis. As a group, sell-side analysts predict that Robinhood Markets will post 0.57 earnings per share for the current fiscal year.

Insider Transactions at Robinhood Markets

In other news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $17.83, for a total transaction of $222,875.00. Following the transaction, the insider now directly owns 854,995 shares in the company, valued at approximately $15,244,560.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Jason Warnick sold 5,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $16.72, for a total value of $83,600.00. Following the transaction, the chief financial officer now owns 997,407 shares in the company, valued at approximately $16,676,645.04. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $17.83, for a total transaction of $222,875.00. Following the completion of the transaction, the insider now owns 854,995 shares in the company, valued at approximately $15,244,560.85. The disclosure for this sale can be found here. Insiders have sold 1,494,233 shares of company stock worth $29,762,641 in the last ninety days. Insiders own 19.95% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of HOOD. Spire Wealth Management acquired a new position in Robinhood Markets in the 4th quarter valued at about $26,000. PNC Financial Services Group Inc. grew its stake in Robinhood Markets by 46.5% in the 4th 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 last quarter. Allspring Global Investments Holdings LLC acquired a new position in Robinhood Markets in the 1st quarter valued at about $34,000. Opal Wealth Advisors LLC acquired a new position in Robinhood Markets in the 2nd quarter valued at about $45,000. Finally, GAMMA Investing LLC grew its stake in Robinhood Markets by 44.9% in the 2nd quarter. GAMMA Investing LLC now owns 2,290 shares of the company’s stock valued at $52,000 after buying an additional 710 shares during the last quarter. 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.