Robinhood Markets (NASDAQ:HOOD) Given New $110.00 Price Target at Piper Sandler

Robinhood Markets (NASDAQ:HOOD) had its target price hoisted by Piper Sandler from $70.00 to $110.00 in a report published on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other equities analysts also recently issued reports on the stock. The Goldman Sachs Group raised their price objective on shares of Robinhood Markets from $91.00 to $104.00 and gave the stock a “buy” rating in a report on Monday, July 7th. Citigroup increased their price target on shares of Robinhood Markets from $50.00 to $100.00 and gave the stock a “neutral” rating in a research report on Monday, July 7th. 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. KeyCorp upped their price objective on Robinhood Markets from $60.00 to $110.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 1st. Finally, Barclays raised their target price on Robinhood Markets from $57.00 to $102.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $85.29.

Robinhood Markets Price Performance

HOOD stock opened at $99.54 on Tuesday. Robinhood Markets has a 1 year low of $13.98 and a 1 year high of $101.89. The company has a market cap of $88.14 billion, a P/E ratio of 56.56, a price-to-earnings-growth ratio of 5.30 and a beta of 2.36. The stock’s fifty day moving average price is $75.53 and its 200-day moving average price is $56.26.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.04). The firm had revenue of $927.00 million during the quarter, compared to the consensus estimate of $917.12 million. Robinhood Markets had a net margin of 48.77% and a return on equity of 15.42%. The firm’s revenue was up 50.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.18 EPS. As a group, analysts expect that Robinhood Markets will post 1.35 earnings per share for the current year.

Insider Transactions at Robinhood Markets

In related news, Director Baiju Bhatt sold 418,338 shares of Robinhood Markets stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $64.46, for a total transaction of $26,966,067.48. Following the sale, the director owned 7,863 shares of the company’s stock, valued at approximately $506,848.98. This trade represents a 98.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Steven M. Quirk sold 104,887 shares of the business’s stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $70.14, for a total value of $7,356,774.18. Following the completion of the transaction, the insider directly owned 228,621 shares in the company, valued at approximately $16,035,476.94. This represents a 31.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,364,145 shares of company stock valued at $181,837,741 over the last 90 days. Company insiders own 19.95% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

Several institutional investors and hedge funds have recently modified their holdings of the stock. Whipplewood Advisors LLC boosted its position in shares of Robinhood Markets by 564.4% during the first quarter. Whipplewood Advisors LLC now owns 598 shares of the company’s stock worth $25,000 after acquiring an additional 508 shares during the last quarter. Hemington Wealth Management lifted its stake in 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 in the last quarter. Wayfinding Financial LLC bought a new position in shares of Robinhood Markets during the 1st quarter valued at about $30,000. Oliver Lagore Vanvalin Investment Group bought a new position in shares of Robinhood Markets during the 2nd quarter valued at about $74,000. Finally, Pandora Wealth Inc. purchased a new position in shares of Robinhood Markets during the first quarter valued at about $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.