Brokerages Set Robinhood Markets, Inc. (NASDAQ:HOOD) Price Target at $39.20

Robinhood Markets, Inc. (NASDAQ:HOOD) has been given a consensus recommendation of “Moderate Buy” by the fifteen analysts that are presently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $40.67.

Several equities analysts have weighed in on HOOD shares. Needham & Company LLC restated a “buy” rating and set a $52.00 target price (up from $40.00) on shares of Robinhood Markets in a report on Monday, December 9th. JMP Securities boosted their target price on Robinhood Markets from $33.00 to $40.00 and gave the stock a “market outperform” rating in a report on Tuesday, November 12th. Citigroup increased their price target on Robinhood Markets from $19.00 to $23.00 and gave the company a “neutral” rating in a report on Friday, September 27th. JPMorgan Chase & Co. upgraded shares of Robinhood Markets from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $20.00 to $43.00 in a research note on Tuesday. Finally, The Goldman Sachs Group raised Robinhood Markets from a “neutral” rating to a “buy” rating and raised their price target for the company from $40.00 to $46.00 in a research report on Friday, December 6th.

Robinhood Markets Trading Up 0.6 %

Shares of NASDAQ:HOOD opened at $40.81 on Monday. The firm has a market cap of $36.08 billion, a price-to-earnings ratio of 69.17, a P/E/G ratio of 0.81 and a beta of 2.07. Robinhood Markets has a 1 year low of $10.38 and a 1 year high of $43.83. The business has a fifty day simple moving average of $36.32 and a 200 day simple moving average of $27.20.

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

Insider Buying and Selling at Robinhood Markets

In related news, CEO Vladimir Tenev sold 250,000 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $24.21, for a total value of $6,052,500.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Baiju Bhatt sold 98,404 shares of the business’s stock in a transaction dated Thursday, October 17th. The stock was 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 of the company’s stock, valued at $66,554.40. This represents a 97.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,708,196 shares of company stock worth $138,845,043. 19.95% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Robinhood Markets

A number of institutional investors have recently made changes to their positions in the stock. HM Payson & Co. grew its holdings in Robinhood Markets by 53.5% during the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after purchasing an additional 410 shares during the period. True Wealth Design LLC bought a new stake in shares of Robinhood Markets in the 3rd quarter valued at $30,000. Eastern Bank bought a new position in Robinhood Markets during the third quarter worth about $30,000. ORG Wealth Partners LLC acquired a new position in Robinhood Markets in the third quarter valued at about $33,000. Finally, Connective Portfolio Management LLC bought a new stake in shares of Robinhood Markets in the third quarter worth about $47,000. 93.27% of the stock is owned by institutional investors and hedge funds.

About Robinhood Markets

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.