Keefe, Bruyette & Woods Increases Robinhood Markets (NASDAQ:HOOD) Price Target to $106.00

Robinhood Markets (NASDAQ:HOOD) had its price target lifted by Keefe, Bruyette & Woods from $89.00 to $106.00 in a research note published on Thursday morning,Benzinga reports. The brokerage currently has a market perform rating on the stock.

Several other analysts also recently issued reports on HOOD. Cantor Fitzgerald boosted their price target on Robinhood Markets from $89.00 to $100.00 and gave the company an “overweight” rating in a research note on Tuesday, July 1st. Morgan Stanley boosted their target price on shares of Robinhood Markets from $43.00 to $110.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 15th. KeyCorp upped their price target on shares of Robinhood Markets from $60.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, July 1st. Mizuho lifted their price objective on shares of Robinhood Markets from $80.00 to $99.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 1st. Finally, The Goldman Sachs Group boosted their price objective on shares of Robinhood Markets from $91.00 to $104.00 and gave the company a “buy” rating in a report on Monday, July 7th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Robinhood Markets presently has an average rating of “Moderate Buy” and an average target price of $96.29.

Robinhood Markets Stock Performance

Shares of HOOD stock opened at $99.90 on Thursday. Robinhood Markets has a 52 week low of $13.98 and a 52 week high of $113.44. The company has a market capitalization of $88.46 billion, a price-to-earnings ratio of 50.71, a PEG ratio of 5.03 and a beta of 2.36. The company has a 50-day simple moving average of $86.92 and a 200 day simple moving average of $62.00.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.12. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.69%. The firm had revenue of $989.00 million during the quarter, compared to the consensus estimate of $893.93 million. During the same period last year, the business posted $0.21 earnings per share. The business’s revenue for the quarter was up 45.0% compared to the same quarter last year. Sell-side analysts forecast that Robinhood Markets will post 1.35 EPS for the current year.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of the firm’s stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $93.27, for a total value of $69,952,500.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Baiju Bhatt sold 418,338 shares of Robinhood Markets stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $74.29, for a total value of $31,078,330.02. Following the completion of the transaction, the director owned 7,863 shares in the company, valued at approximately $584,142.27. The trade was a 98.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,026,690 shares of company stock worth $257,160,102 over the last three months. Corporate insiders own 14.47% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. True Vision MN LLC increased its position in Robinhood Markets by 1.7% during the 2nd quarter. True Vision MN LLC now owns 6,858 shares of the company’s stock worth $642,000 after purchasing an additional 116 shares in the last quarter. Forum Financial Management LP grew its stake in shares of Robinhood Markets by 0.8% during the second quarter. Forum Financial Management LP now owns 17,997 shares of the company’s stock worth $1,685,000 after buying an additional 134 shares during the last quarter. Hemington Wealth Management increased its holdings in shares of Robinhood Markets by 22.5% during the second quarter. Hemington Wealth Management now owns 779 shares of the company’s stock worth $72,000 after buying an additional 143 shares in the last quarter. Ballentine Partners LLC lifted its stake in shares of Robinhood Markets by 2.3% in the 2nd quarter. Ballentine Partners LLC now owns 6,624 shares of the company’s stock valued at $620,000 after acquiring an additional 148 shares during the last quarter. Finally, REAP Financial Group LLC lifted its stake in shares of Robinhood Markets by 44.1% in the 2nd quarter. REAP Financial Group LLC now owns 523 shares of the company’s stock valued at $49,000 after acquiring an additional 160 shares during the last quarter. Institutional investors 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.