Robinhood Markets, Inc. (NASDAQ:HOOD) Receives $24.97 Consensus PT from Analysts

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) have earned an average rating of “Hold” from the sixteen ratings firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and eight have given a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $24.97.

Several analysts recently commented on HOOD shares. Piper Sandler increased their target price on shares of Robinhood Markets from $27.00 to $30.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Needham & Company LLC reiterated a “hold” rating on shares of Robinhood Markets in a research report on Thursday, August 8th. Citigroup lifted their target price on Robinhood Markets from $19.00 to $23.00 and gave the stock a “neutral” rating in a report on Friday, September 27th. Deutsche Bank Aktiengesellschaft upped their target price on Robinhood Markets from $24.00 to $27.00 and gave the company a “buy” rating in a report on Monday, September 30th. Finally, JPMorgan Chase & Co. lifted their price target on Robinhood Markets from $17.00 to $21.00 and gave the stock an “underweight” rating in a research note on Thursday, October 17th.

Robinhood Markets Stock Performance

Shares of HOOD stock opened at $28.03 on Wednesday. Robinhood Markets has a 1 year low of $7.91 and a 1 year high of $28.36. The business’s fifty day moving average is $23.16 and its 200-day moving average is $21.29. The stock has a market cap of $24.63 billion, a PE ratio of 186.87 and a beta of 1.84.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results 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. Robinhood Markets had a return on equity of 4.25% and a net margin of 12.96%. The firm had revenue of $682.00 million for the quarter, compared to analyst estimates of $640.39 million. During the same period in the previous year, the company earned $0.03 earnings per share. Robinhood Markets’s revenue was up 40.3% compared to the same quarter last year. Equities research analysts predict that Robinhood Markets will post 0.74 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Baiju Bhatt sold 98,404 shares of the business’s stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $26.40, for a total transaction of $2,597,865.60. Following the transaction, the director now directly owns 2,521 shares in the company, valued at $66,554.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Steven M. Quirk sold 208,291 shares of the firm’s stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $24.98, for a total transaction of $5,203,109.18. Following the completion of the sale, the insider now directly owns 346,020 shares of the company’s stock, valued at $8,643,579.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Baiju Bhatt sold 98,404 shares of the business’s stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $26.40, for a total value of $2,597,865.60. Following the completion of the sale, the director now directly owns 2,521 shares of the company’s stock, valued at approximately $66,554.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,639,654 shares of company stock worth $110,241,632 in the last quarter. 19.95% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Robinhood Markets

Several hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in shares of Robinhood Markets by 1.8% in the first quarter. Vanguard Group Inc. now owns 56,828,633 shares of the company’s stock valued at $1,143,960,000 after buying an additional 1,003,535 shares during the period. Renaissance Technologies LLC lifted its position in shares of Robinhood Markets by 37.7% in the 2nd quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company’s stock worth $173,770,000 after acquiring an additional 2,094,800 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Robinhood Markets by 2.9% during the second quarter. Dimensional Fund Advisors LP now owns 4,075,468 shares of the company’s stock valued at $92,549,000 after purchasing an additional 112,967 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Robinhood Markets by 1,211,858.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,817,670 shares of the company’s stock valued at $89,410,000 after purchasing an additional 3,817,355 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Robinhood Markets by 8.7% in the second quarter. Bank of New York Mellon Corp now owns 2,410,791 shares of the company’s stock worth $54,749,000 after purchasing an additional 193,585 shares during the period. 93.27% of the stock is owned by institutional investors and hedge funds.

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.