Robinhood Markets, Inc. (NASDAQ:HOOD) Receives $53.24 Average Price Target from Brokerages

Robinhood Markets, Inc. (NASDAQ:HOOD) has earned an average recommendation of “Moderate Buy” from the eighteen ratings firms that are presently covering the firm, Marketbeat.com reports. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $55.41.

HOOD has been the subject of a number of recent research reports. Wolfe Research lowered Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, February 18th. Barclays lowered their target price on Robinhood Markets from $76.00 to $45.00 and set an “overweight” rating for the company in a research note on Monday, April 7th. JMP Securities reiterated a “market outperform” rating and issued a $70.00 target price on shares of Robinhood Markets in a research note on Thursday, May 1st. The Goldman Sachs Group raised their price objective on Robinhood Markets from $56.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Citigroup lowered their price objective on Robinhood Markets from $60.00 to $50.00 and set a “neutral” rating for the company in a research note on Wednesday, April 2nd.

Robinhood Markets Stock Performance

HOOD stock opened at $60.68 on Friday. Robinhood Markets has a 1 year low of $13.98 and a 1 year high of $66.91. The firm has a market cap of $53.73 billion, a P/E ratio of 38.65, a price-to-earnings-growth ratio of 1.05 and a beta of 2.15. The stock has a 50-day simple moving average of $44.76 and a 200-day simple moving average of $43.31.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.04). Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. The company had revenue of $927.00 million during the quarter, compared to analyst estimates of $917.12 million. During the same quarter last year, the business posted $0.18 EPS. Robinhood Markets’s quarterly revenue was up 50.0% compared to the same quarter last year. On average, equities research analysts predict that Robinhood Markets will post 1.35 EPS for the current year.

Insider Transactions at Robinhood Markets

In other news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of Robinhood Markets stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $34.51, for a total value of $201,987.03. Following the completion of the transaction, the chief technology officer now owns 5,853 shares in the company, valued at approximately $201,987.03. This trade represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 50,000 shares of Robinhood Markets stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $60.77, for a total value of $3,038,500.00. Following the completion of the transaction, the insider now owns 706,642 shares of the company’s stock, valued at approximately $42,942,634.34. The trade was a 6.61% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,947,622 shares of company stock worth $89,994,656. 14.47% of the stock is currently owned by corporate insiders.

Institutional Trading of Robinhood Markets

Hedge funds have recently made changes to their positions in the stock. Whipplewood Advisors LLC lifted its holdings in shares of Robinhood Markets by 564.4% in the 1st quarter. Whipplewood Advisors LLC now owns 598 shares of the company’s stock worth $25,000 after purchasing an additional 508 shares during the last quarter. Hemington Wealth Management lifted its holdings in shares of Robinhood Markets by 52.2% in the 1st quarter. Hemington Wealth Management now owns 636 shares of the company’s stock worth $26,000 after purchasing an additional 218 shares during the last quarter. New Wave Wealth Advisors LLC bought a new stake in shares of Robinhood Markets in the 4th quarter worth approximately $26,000. Wayfinding Financial LLC bought a new stake in shares of Robinhood Markets in the 1st quarter worth approximately $30,000. Finally, Pandora Wealth Inc. bought a new stake in shares of Robinhood Markets in the 1st quarter worth approximately $33,000. Institutional investors own 93.27% of the company’s stock.

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.