Deutsche Bank Aktiengesellschaft Forecasts Strong Price Appreciation for Robinhood Markets (NASDAQ:HOOD) Stock

Robinhood Markets (NASDAQ:HOOD) had its price objective upped by stock analysts at Deutsche Bank Aktiengesellschaft from $70.00 to $85.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price objective indicates a potential upside of 19.75% from the stock’s current price.

Several other brokerages also recently commented on HOOD. Cantor Fitzgerald lowered their price objective on shares of Robinhood Markets from $62.00 to $60.00 and set an “overweight” rating for the company in a research report on Thursday, May 1st. Piper Sandler raised their price target on shares of Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Redburn Atlantic reiterated a “sell” rating and set a $48.00 price objective (up from $40.00) on shares of Robinhood Markets in a research report on Monday. Compass Point initiated coverage on shares of Robinhood Markets in a research report on Wednesday, March 19th. They issued a “buy” rating and a $61.00 target price on the stock. Finally, Wolfe Research cut shares of Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Robinhood Markets currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.17.

Robinhood Markets Price Performance

Robinhood Markets stock traded down $3.90 during trading hours on Monday, hitting $70.98. The company had a trading volume of 38,245,171 shares, compared to its average volume of 27,003,642. The firm has a market cap of $62.85 billion, a PE ratio of 45.38, a PEG ratio of 1.05 and a beta of 2.25. Robinhood Markets has a one year low of $13.98 and a one year high of $77.80. The firm has a 50-day moving average of $52.58 and a 200 day moving average of $47.54.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data 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 business had revenue of $927.00 million during the quarter, compared to the consensus estimate of $917.12 million. During the same period in the prior year, the firm earned $0.18 EPS. The business’s revenue for the quarter was up 50.0% on a year-over-year basis. As a group, research analysts expect that Robinhood Markets will post 1.35 earnings per share for the current year.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $43.36, for a total transaction of $253,786.08. Following the completion of the sale, the chief technology officer now directly owns 11,706 shares in the company, valued at approximately $507,572.16. This trade represents a 33.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of Robinhood Markets stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $38.31, for a total value of $957,750.00. Following the completion of the transaction, the insider now directly owns 822,825 shares of the company’s stock, valued at approximately $31,522,425.75. This trade represents a 2.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,226,771 shares of company stock worth $111,467,774 over the last ninety days. Insiders own 14.47% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

Several institutional investors have recently added to or reduced their stakes in HOOD. Spire Wealth Management increased its stake in shares of Robinhood Markets by 104.6% in the 4th quarter. Spire Wealth Management now owns 1,074 shares of the company’s stock valued at $40,000 after acquiring an additional 549 shares in the last quarter. Yousif Capital Management LLC acquired a new stake in Robinhood Markets in the fourth quarter worth $321,000. Choreo LLC bought a new stake in Robinhood Markets in the fourth quarter valued at $288,000. Bleakley Financial Group LLC acquired a new position in shares of Robinhood Markets during the fourth quarter valued at about $277,000. Finally, Golden State Wealth Management LLC acquired a new position in shares of Robinhood Markets during the fourth quarter valued at about $101,000. 93.27% of the stock is owned by institutional investors and hedge funds.

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.