Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $21.00

Robinhood Markets (NASDAQ:HOOD) had its price target boosted by Morgan Stanley from $20.00 to $21.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have an equal weight rating on the stock.

A number of other equities research analysts have also commented on HOOD. Deutsche Bank Aktiengesellschaft raised their price target on Robinhood Markets from $19.00 to $20.00 and gave the stock a hold rating in a research report on Thursday, June 20th. Mizuho upped their price target on shares of Robinhood Markets from $20.00 to $21.00 and gave the company a buy rating in a report on Monday, May 6th. The Goldman Sachs Group raised their price objective on shares of Robinhood Markets from $19.00 to $21.00 and gave the stock a neutral rating in a report on Thursday, July 11th. KeyCorp boosted their price objective on shares of Robinhood Markets from $23.00 to $25.00 and gave the company an overweight rating in a research report on Friday, July 19th. Finally, JPMorgan Chase & Co. increased their target price on Robinhood Markets from $16.00 to $17.00 and gave the stock an underweight rating in a report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $22.70.

Robinhood Markets Stock Performance

Shares of NASDAQ HOOD opened at $19.98 on Wednesday. The firm has a 50 day moving average price of $21.46 and a 200 day moving average price of $18.65. The stock has a market cap of $17.56 billion, a P/E ratio of 133.20 and a beta of 1.83. Robinhood Markets has a 52-week low of $7.91 and a 52-week high of $24.88.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.05. The company had revenue of $682.00 million during the quarter, compared to analyst estimates of $640.39 million. Robinhood Markets had a net margin of 6.22% and a return on equity of 1.86%. The firm’s revenue was up 40.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.03 EPS. Analysts predict that Robinhood Markets will post 0.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Robinhood Markets news, Director Baiju Bhatt sold 143,944 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $18.73, for a total value of $2,696,071.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Vladimir Tenev sold 47,570 shares of Robinhood Markets stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $21.12, for a total transaction of $1,004,678.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Baiju Bhatt sold 143,944 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $18.73, for a total value of $2,696,071.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,375,190 shares of company stock worth $28,071,988. Corporate insiders own 19.95% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Robinhood Markets by 23.7% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 20,587 shares of the company’s stock worth $262,000 after buying an additional 3,940 shares during the last quarter. International Assets Investment Management LLC lifted its position in Robinhood Markets by 1,174.1% during the fourth quarter. International Assets Investment Management LLC now owns 7,326 shares of the company’s stock worth $93,000 after acquiring an additional 6,751 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in shares of Robinhood Markets by 4.7% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 23,642 shares of the company’s stock worth $310,000 after acquiring an additional 1,060 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Robinhood Markets by 33.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 177,159 shares of the company’s stock valued at $2,257,000 after purchasing an additional 44,755 shares during the last quarter. Finally, Vontobel Holding Ltd. bought a new position in shares of Robinhood Markets during the fourth quarter worth approximately $1,076,000. 93.27% of the stock is 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.