Robinhood Markets (NASDAQ:HOOD) Stock Price Expected to Rise, Piper Sandler Analyst Says

Robinhood Markets (NASDAQ:HOOD) had its target price lifted by Piper Sandler from $30.00 to $36.00 in a report released on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

HOOD has been the topic of several other research reports. Needham & Company LLC raised Robinhood Markets from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a report on Monday. KeyCorp raised their price target on Robinhood Markets from $25.00 to $30.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Bank of America boosted their price objective on Robinhood Markets from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, August 12th. JMP Securities raised their target price on shares of Robinhood Markets from $33.00 to $40.00 and gave the company a “market outperform” rating in a research note on Tuesday, November 12th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Robinhood Markets from $27.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $28.66.

Robinhood Markets Stock Performance

Shares of HOOD stock opened at $35.22 on Monday. Robinhood Markets has a 52 week low of $7.98 and a 52 week high of $38.11. The stock has a market capitalization of $31.14 billion, a PE ratio of 59.70, a PEG ratio of 0.82 and a beta of 1.84. The stock’s fifty day moving average is $26.67 and its 200-day moving average is $22.80.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The company had revenue of $637.00 million for the quarter, compared to the consensus estimate of $660.53 million. During the same period in the prior year, the company earned ($0.09) EPS. The firm’s revenue was up 36.4% compared to the same quarter last year. As a group, analysts forecast that Robinhood Markets will post 0.74 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Baiju Bhatt sold 139,916 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $19.55, for a total value of $2,735,357.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $19.33, for a total transaction of $241,625.00. Following the sale, the insider now owns 1,045,068 shares in the company, valued at approximately $20,201,164.44. The trade was a 1.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,710,549 shares of company stock worth $115,477,194 over the last ninety days. 19.95% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of HOOD. Allspring Global Investments Holdings LLC acquired a new position in Robinhood Markets during the first quarter worth $34,000. Empowered Funds LLC bought a new position in shares of Robinhood Markets in the 1st quarter valued at about $262,000. Intech Investment Management LLC increased its position in shares of Robinhood Markets by 60.1% in the first quarter. Intech Investment Management LLC now owns 28,819 shares of the company’s stock valued at $580,000 after acquiring an additional 10,820 shares during the last quarter. Vanguard Group Inc. raised its holdings in Robinhood Markets by 1.8% during the first quarter. Vanguard Group Inc. now owns 56,828,633 shares of the company’s stock worth $1,143,960,000 after acquiring an additional 1,003,535 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new position in Robinhood Markets during the first quarter valued at approximately $270,000. 93.27% of the stock is currently owned by institutional investors.

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.