KeyCorp Forecasts Strong Price Appreciation for Robinhood Markets (NASDAQ:HOOD) Stock

Robinhood Markets (NASDAQ:HOOD) had its target price lifted by KeyCorp from $50.00 to $57.00 in a research note released on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other research firms have also recently weighed in on HOOD. JMP Securities upped their price objective on shares of Robinhood Markets from $33.00 to $40.00 and gave the company a “market outperform” rating in a research report on Tuesday, November 12th. Barclays upped their price objective on shares of Robinhood Markets from $49.00 to $54.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Morgan Stanley upped their price objective on shares of Robinhood Markets from $55.00 to $64.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Sanford C. Bernstein increased their price target on shares of Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $52.00 price target (up previously from $40.00) on shares of Robinhood Markets in a research report on Monday, December 9th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.73.

Robinhood Markets Trading Up 3.6 %

Shares of Robinhood Markets stock opened at $53.00 on Thursday. The company has a fifty day moving average price of $41.58 and a 200 day moving average price of $29.90. The stock has a market cap of $46.85 billion, a price-to-earnings ratio of 89.83, a price-to-earnings-growth ratio of 0.69 and a beta of 2.07. Robinhood Markets has a twelve month low of $10.51 and a twelve month high of $53.51.

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 analysts’ consensus estimates of $0.18 by ($0.01). The firm had revenue of $637.00 million during the quarter, compared to analysts’ expectations of $660.53 million. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The business’s quarterly revenue was up 36.4% on a year-over-year basis. During the same period in the previous year, the company earned ($0.09) earnings per share. Analysts forecast that Robinhood Markets will post 0.97 earnings per share for the current year.

Insider Buying and Selling

In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $24.21, for a total value of $6,052,500.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Meyer Malka sold 1,535,681 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $40.11, for a total transaction of $61,596,164.91. Following the completion of the sale, the director now owns 4,974,238 shares in the company, valued at $199,516,686.18. The trade was a 23.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,297,400 shares of company stock worth $170,630,852 over the last quarter. 19.95% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Capital Performance Advisors LLP increased its stake in shares of Robinhood Markets by 224.3% during the fourth quarter. Capital Performance Advisors LLP now owns 7,086 shares of the company’s stock valued at $264,000 after acquiring an additional 4,901 shares during the period. Sheaff Brock Investment Advisors LLC increased its stake in shares of Robinhood Markets by 11.7% during the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 13,750 shares of the company’s stock valued at $512,000 after acquiring an additional 1,435 shares during the period. Allworth Financial LP increased its stake in shares of Robinhood Markets by 130.7% during the fourth quarter. Allworth Financial LP now owns 1,135 shares of the company’s stock valued at $42,000 after acquiring an additional 643 shares during the period. Principal Securities Inc. increased its stake in shares of Robinhood Markets by 255.9% during the fourth quarter. Principal Securities Inc. now owns 7,966 shares of the company’s stock valued at $297,000 after acquiring an additional 5,728 shares during the period. Finally, Montag A & Associates Inc. acquired a new position in shares of Robinhood Markets during the fourth quarter valued at approximately $77,000. 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.