Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $30.00 at Piper Sandler

Robinhood Markets (NASDAQ:HOOD) had its price target hoisted by investment analysts at Piper Sandler from $27.00 to $30.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price objective suggests a potential upside of 11.61% from the stock’s current price.

HOOD has been the topic of several other reports. Barclays increased their price objective on shares of Robinhood Markets from $20.00 to $23.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. The Goldman Sachs Group increased their price target on shares of Robinhood Markets from $22.50 to $25.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Needham & Company LLC reissued a “hold” rating on shares of Robinhood Markets in a research note on Thursday, August 8th. JMP Securities reaffirmed a “market outperform” rating and issued a $30.00 target price on shares of Robinhood Markets in a research report on Thursday, August 8th. Finally, Keefe, Bruyette & Woods lowered their price target on 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. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $24.97.

Robinhood Markets Price Performance

HOOD traded up $0.05 during trading on Monday, hitting $26.88. The company’s stock had a trading volume of 5,839,848 shares, compared to its average volume of 15,446,725. Robinhood Markets has a twelve month low of $7.91 and a twelve month high of $27.33. The stock has a market cap of $23.62 billion, a PE ratio of 179.73 and a beta of 1.84. The firm’s 50 day moving average price is $22.03 and its 200-day moving average price is $20.85.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.05. Robinhood Markets had a return on equity of 4.25% and a net margin of 12.96%. The business had revenue of $682.00 million during the quarter, compared to the consensus estimate of $640.39 million. During the same quarter in the previous year, the business earned $0.03 earnings per share. The business’s revenue for the quarter was up 40.3% on a year-over-year basis. Equities analysts anticipate that Robinhood Markets will post 0.76 earnings per share for the current year.

Insider Buying and Selling at Robinhood Markets

In other news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $19.33, for a total value of $241,625.00. Following the completion of the transaction, the insider now directly owns 1,045,068 shares in the company, valued at approximately $20,201,164.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of Robinhood Markets stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $19.33, for a total transaction of $241,625.00. Following the sale, the insider now directly owns 1,045,068 shares of the company’s stock, valued at approximately $20,201,164.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $16.05, for a total value of $4,012,500.00. The disclosure for this sale can be found here. Insiders sold 4,541,250 shares of company stock valued at $107,643,767 over the last 90 days. 19.95% of the stock is owned by corporate insiders.

Institutional Trading of Robinhood Markets

A number of hedge funds have recently made changes to their positions in HOOD. PNC Financial Services Group Inc. boosted its stake in Robinhood Markets by 46.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock valued at $29,000 after acquiring an additional 722 shares during the last quarter. ORG Partners LLC acquired a new stake in shares of Robinhood Markets in the 2nd quarter valued at about $33,000. ORG Wealth Partners LLC bought a new position in shares of Robinhood Markets during the third quarter worth about $33,000. Allspring Global Investments Holdings LLC acquired a new position in Robinhood Markets in the first quarter worth about $34,000. Finally, International Assets Investment Management LLC bought a new stake in Robinhood Markets in the second quarter valued at about $40,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

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.