Robinhood Markets, Inc. (NASDAQ:HOOD) Receives $55.41 Average Target Price from Analysts

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) have earned a consensus recommendation of “Moderate Buy” from the nineteen brokerages that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, six have given a hold recommendation and twelve have issued a buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $56.17.

Several equities research analysts recently issued reports on the stock. Barclays cut their price objective on shares of Robinhood Markets from $76.00 to $45.00 and set an “overweight” rating for the company in a research report on Monday, April 7th. Needham & Company LLC reiterated a “buy” rating and set a $71.00 price target on shares of Robinhood Markets in a research report on Tuesday, May 27th. KeyCorp dropped their price objective on shares of Robinhood Markets from $75.00 to $55.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. JPMorgan Chase & Co. lifted their price target on shares of Robinhood Markets from $44.00 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday, May 1st. Finally, Redburn Atlantic reiterated a “sell” rating and issued a $48.00 price target (up previously from $40.00) on shares of Robinhood Markets in a research note on Monday.

Insider Activity at Robinhood Markets

In other news, CEO Vladimir Tenev sold 750,000 shares of the company’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $41.96, for a total transaction of $31,470,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the business’s stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $34.51, for a total transaction of $201,987.03. Following the completion of the sale, the chief technology officer now owns 5,853 shares in the company, valued at $201,987.03. This represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,232,636 shares of company stock worth $111,898,793 in the last 90 days. 14.47% of the stock is owned by insiders.

Institutional Investors Weigh In On Robinhood Markets

Several hedge funds have recently modified their holdings of HOOD. Janney Montgomery Scott LLC boosted its stake in shares of Robinhood Markets by 88.4% during the 4th quarter. Janney Montgomery Scott LLC now owns 24,825 shares of the company’s stock worth $925,000 after purchasing an additional 11,650 shares during the last quarter. Chicago Partners Investment Group LLC acquired a new stake in Robinhood Markets during the 4th quarter worth approximately $322,000. Spire Wealth Management increased its position in Robinhood Markets by 104.6% during the 4th quarter. Spire Wealth Management now owns 1,074 shares of the company’s stock worth $40,000 after purchasing an additional 549 shares in the last quarter. U.S. Capital Wealth Advisors LLC acquired a new stake in Robinhood Markets in the fourth quarter valued at approximately $1,063,000. Finally, Cullinan Associates Inc. acquired a new stake in Robinhood Markets in the fourth quarter valued at approximately $253,000. 93.27% of the stock is owned by institutional investors and hedge funds.

Robinhood Markets Stock Performance

NASDAQ:HOOD opened at $73.40 on Thursday. The company has a fifty day moving average of $53.19 and a two-hundred day moving average of $47.80. The stock has a market capitalization of $64.99 billion, a PE ratio of 46.75, a P/E/G ratio of 1.05 and a beta of 2.25. Robinhood Markets has a fifty-two week low of $13.98 and a fifty-two week high of $77.80.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.04). The business had revenue of $927.00 million during the quarter, compared to analysts’ expectations of $917.12 million. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. The business’s quarterly revenue was up 50.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.18 earnings per share. Research analysts forecast that Robinhood Markets will post 1.35 earnings per share for the current year.

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.