Robinhood Markets (NASDAQ:HOOD) Earns Buy Rating from Analysts at Compass Point

Research analysts at Compass Point assumed coverage on shares of Robinhood Markets (NASDAQ:HOOD) in a note issued to investors on Wednesday, MarketBeat reports. The brokerage set a “buy” rating and a $61.00 price target on the stock. Compass Point’s target price indicates a potential upside of 39.72% from the company’s previous close.

Several other analysts have also commented on the company. Mizuho lifted their price objective on Robinhood Markets from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. JMP Securities lifted their target price on Robinhood Markets from $60.00 to $77.00 and gave the company a “market outperform” rating in a research report on Thursday, February 13th. Citigroup lifted their target price on Robinhood Markets from $45.00 to $60.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Sanford C. Bernstein lifted their target price on Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. Finally, Piper Sandler lifted their target price on Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $61.29.

Robinhood Markets Price Performance

Shares of HOOD opened at $43.66 on Wednesday. Robinhood Markets has a one year low of $13.98 and a one year high of $66.91. The firm has a market capitalization of $38.66 billion, a P/E ratio of 27.81, a PEG ratio of 1.05 and a beta of 2.14. The business has a fifty day moving average of $48.96 and a 200 day moving average of $36.99.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. Analysts expect that Robinhood Markets will post 1.35 EPS for the current fiscal year.

Insider Activity

In other news, CEO Vladimir Tenev sold 750,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $39.16, for a total value of $29,370,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 300,000 shares of Robinhood Markets stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $37.51, for a total value of $11,253,000.00. Following the completion of the sale, the insider now directly owns 806,955 shares in the company, valued at $30,268,882.05. This trade represents a 27.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,979,251 shares of company stock worth $142,232,560 over the last ninety days. Corporate insiders own 19.95% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

Several large investors have recently made changes to their positions in the company. Victory Capital Management Inc. increased its stake in Robinhood Markets by 85.3% during the third quarter. Victory Capital Management Inc. now owns 117,383 shares of the company’s stock worth $2,749,000 after acquiring an additional 54,046 shares during the last quarter. CIBC Asset Management Inc increased its stake in Robinhood Markets by 3.4% during the third quarter. CIBC Asset Management Inc now owns 21,731 shares of the company’s stock worth $509,000 after acquiring an additional 724 shares during the last quarter. Natixis Advisors LLC increased its stake in Robinhood Markets by 44.0% during the third quarter. Natixis Advisors LLC now owns 33,980 shares of the company’s stock worth $796,000 after acquiring an additional 10,376 shares during the last quarter. Quest Partners LLC increased its stake in Robinhood Markets by 1,008.4% during the third quarter. Quest Partners LLC now owns 15,086 shares of the company’s stock worth $353,000 after acquiring an additional 13,725 shares during the last quarter. Finally, Caprock Group LLC increased its stake in Robinhood Markets by 1.3% during the third quarter. Caprock Group LLC now owns 100,527 shares of the company’s stock worth $2,354,000 after acquiring an additional 1,256 shares during the last quarter. 93.27% of the stock is owned by institutional investors.

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.