Robinhood Markets (NASDAQ:HOOD) Stock Price Expected to Rise, KeyCorp Analyst Says

Robinhood Markets (NASDAQ:HOOD) had its price objective hoisted by analysts at KeyCorp from $50.00 to $57.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. KeyCorp’s price target would indicate a potential upside of 9.72% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. Deutsche Bank Aktiengesellschaft raised their price objective on Robinhood Markets from $36.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. JMP Securities raised their price objective on Robinhood Markets from $33.00 to $40.00 and gave the stock a “market outperform” rating in a research note on Tuesday, November 12th. Sanford C. Bernstein raised their target price on Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Keefe, Bruyette & Woods raised their target price on Robinhood Markets from $24.00 to $38.00 and gave the company a “market perform” rating in a research note on Friday, December 20th. Finally, Barclays raised their target price on Robinhood Markets from $49.00 to $54.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $43.73.

Robinhood Markets Trading Down 2.0 %

HOOD stock opened at $51.95 on Thursday. The stock’s 50 day simple moving average is $41.88 and its 200 day simple moving average is $30.10. Robinhood Markets has a 12-month low of $10.51 and a 12-month high of $53.51. The firm has a market cap of $45.92 billion, a P/E ratio of 88.05, a P/E/G ratio of 0.69 and a beta of 2.07.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $660.53 million. During the same quarter last year, the business earned ($0.09) earnings per share. The business’s revenue for the quarter was up 36.4% compared to the same quarter last year. On average, research analysts forecast that Robinhood Markets will post 0.97 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CTO Jeffrey Tsvi Pinner sold 5,876 shares of Robinhood Markets stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $47.82, for a total transaction of $280,990.32. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Vladimir Tenev sold 500,000 shares of Robinhood Markets stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $50.77, for a total value of $25,385,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 4,297,400 shares of company stock valued at $170,630,852 over the last three months. Company insiders own 19.95% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

Institutional investors have recently bought and sold shares of the stock. New Wave Wealth Advisors LLC purchased a new position in Robinhood Markets in the 4th quarter worth about $26,000. Silicon Valley Capital Partners purchased a new position in Robinhood Markets in the 4th quarter worth about $37,000. Bogart Wealth LLC purchased a new position in Robinhood Markets in the 4th quarter worth about $37,000. Spire Wealth Management increased its stake in Robinhood Markets by 104.6% in the 4th quarter. Spire Wealth Management now owns 1,074 shares of the company’s stock worth $40,000 after purchasing an additional 549 shares in the last quarter. Finally, Allworth Financial LP increased its stake in Robinhood Markets by 130.7% in the 4th quarter. Allworth Financial LP now owns 1,135 shares of the company’s stock worth $42,000 after purchasing an additional 643 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

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.