Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $47.00 at KeyCorp

Robinhood Markets (NASDAQ:HOOD) had its price target lifted by KeyCorp from $30.00 to $47.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. KeyCorp’s price target would suggest a potential upside of 12.79% from the stock’s previous close.

Several other analysts also recently issued reports on the stock. Keefe, Bruyette & Woods lowered their price objective on shares of Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating for the company in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a report on Thursday. Piper Sandler boosted their price objective on shares of Robinhood Markets from $36.00 to $42.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd. Bank of America raised their target price on Robinhood Markets from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Finally, Morgan Stanley upgraded Robinhood Markets from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $24.00 to $55.00 in a research note on Monday, November 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Robinhood Markets currently has an average rating of “Moderate Buy” and an average price target of $35.80.

Robinhood Markets Trading Up 7.1 %

Shares of HOOD stock opened at $41.67 on Thursday. The company’s fifty day simple moving average is $29.73 and its 200-day simple moving average is $24.19. Robinhood Markets has a 52 week low of $10.38 and a 52 week high of $42.76. The company has a market cap of $36.84 billion, a PE ratio of 65.97, a P/E/G ratio of 0.90 and a beta of 2.09.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The company had revenue of $637.00 million for the quarter, compared to analyst estimates of $660.53 million. During the same quarter in the prior year, the firm earned ($0.09) EPS. The company’s revenue for the quarter was up 36.4% compared to the same quarter last year. Equities research analysts expect that Robinhood Markets will post 0.74 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of Robinhood Markets stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $38.22, for a total value of $477,750.00. Following the completion of the transaction, the insider now directly owns 1,106,955 shares of the company’s stock, valued at approximately $42,307,820.10. The trade was a 1.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Meyer Malka sold 1,535,681 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $40.11, for a total transaction of $61,596,164.91. Following the sale, the director now owns 4,974,238 shares in the company, valued at approximately $199,516,686.18. This trade represents a 23.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,991,091 shares of company stock valued at $172,716,066 in the last quarter. Insiders own 19.95% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

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