Robinhood Markets (NASDAQ:HOOD) Given New $38.00 Price Target at Keefe, Bruyette & Woods

Robinhood Markets (NASDAQ:HOOD) had its price objective increased by analysts at Keefe, Bruyette & Woods from $24.00 to $38.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 2.87% from the company’s previous close.

Several other equities analysts also recently weighed in on HOOD. Barclays upgraded Robinhood Markets from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $26.00 to $49.00 in a research report on Monday, December 9th. JPMorgan Chase & Co. boosted their price target on shares of Robinhood Markets from $17.00 to $21.00 and gave the stock an “underweight” rating in a research report on Thursday, October 17th. The Goldman Sachs Group raised shares of Robinhood Markets from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $40.00 to $46.00 in a research note on Friday, December 6th. Citigroup increased their price target on shares of Robinhood Markets from $19.00 to $23.00 and gave the company a “neutral” rating in a report on Friday, September 27th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Robinhood Markets from $36.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. One analyst has rated the stock with a sell rating, two have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $39.20.

Robinhood Markets Stock Down 0.4 %

NASDAQ:HOOD opened at $36.94 on Friday. Robinhood Markets has a twelve month low of $10.38 and a twelve month high of $43.83. The stock has a market cap of $32.65 billion, a P/E ratio of 62.61, a price-to-earnings-growth ratio of 0.76 and a beta of 2.09. The firm’s fifty day simple moving average is $32.87 and its 200 day simple moving average is $25.50.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The company had revenue of $637.00 million for the quarter, compared to the consensus estimate of $660.53 million. During the same period last year, the business earned ($0.09) EPS. The firm’s quarterly revenue was up 36.4% on a year-over-year basis. On average, analysts expect that Robinhood Markets will post 0.8 EPS for the current fiscal year.

Insider Activity at Robinhood Markets

In other news, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $22.88, for a total value of $5,720,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Baiju Bhatt sold 98,404 shares of the firm’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $26.40, for a total value of $2,597,865.60. Following the sale, the director now directly owns 2,521 shares in the company, valued at approximately $66,554.40. The trade was a 97.50 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,037,689 shares of company stock worth $177,092,487. Company insiders own 19.95% of the company’s stock.

Institutional Trading of Robinhood Markets

A number of institutional investors have recently modified their holdings of HOOD. FMR LLC boosted its stake in Robinhood Markets by 31.3% in the third quarter. FMR LLC now owns 14,129,544 shares of the company’s stock valued at $330,914,000 after acquiring an additional 3,368,118 shares in the last quarter. State Street Corp grew its stake in shares of Robinhood Markets by 8.7% during the third quarter. State Street Corp now owns 13,558,321 shares of the company’s stock worth $317,536,000 after acquiring an additional 1,085,679 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Robinhood Markets by 19.5% during the third quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company’s stock valued at $271,708,000 after acquiring an additional 1,895,427 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Robinhood Markets by 37.7% in the 2nd quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company’s stock valued at $173,770,000 after purchasing an additional 2,094,800 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Robinhood Markets by 33.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,581,465 shares of the company’s stock worth $107,298,000 after purchasing an additional 1,137,677 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors.

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.