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

Robinhood Markets (NASDAQ:HOOD) had its price objective lifted by investment analysts at Piper Sandler from $54.00 to $75.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price target would indicate a potential upside of 19.31% from the stock’s previous close.

A number of other research firms have also recently commented on HOOD. 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 upped their target price on shares of Robinhood Markets from $24.00 to $38.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. Raymond James started coverage on shares of Robinhood Markets in a research report on Wednesday, February 5th. They set a “market perform” rating for the company. Deutsche Bank Aktiengesellschaft raised their target price on shares of Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Finally, Mizuho boosted their price target on Robinhood Markets from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.93.

Robinhood Markets Stock Performance

Shares of Robinhood Markets stock traded up $6.95 during midday trading on Thursday, reaching $62.86. 42,423,793 shares of the company’s stock traded hands, compared to its average volume of 22,420,699. The company has a market cap of $55.57 billion, a PE ratio of 106.24, a price-to-earnings-growth ratio of 0.73 and a beta of 2.13. The stock has a 50 day moving average of $44.48 and a 200-day moving average of $31.90. Robinhood Markets has a 12 month low of $12.77 and a 12 month high of $66.91.

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 net margin of 21.80% and a return on equity of 7.52%. On average, equities analysts anticipate that Robinhood Markets will post 0.97 earnings per share for the current fiscal year.

Insider Transactions at Robinhood Markets

In other news, Director Baiju Bhatt sold 90,866 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $55.34, for a total transaction of $5,028,524.44. Following the sale, the director now directly owns 5,042 shares of the company’s stock, valued at $279,024.28. The trade was a 94.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $37.92, for a total value of $222,817.92. Following the completion of the transaction, the chief technology officer now owns 11,752 shares of the company’s stock, valued at $445,635.84. This trade represents a 33.33 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,948,427 shares of company stock worth $165,005,244. 19.95% of the stock is currently owned by insiders.

Institutional Trading of Robinhood Markets

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Cerity Partners LLC lifted its stake in shares of Robinhood Markets by 607.9% in the 4th quarter. Cerity Partners LLC now owns 761,887 shares of the company’s stock valued at $28,258,000 after purchasing an additional 654,258 shares during the period. FMR LLC increased its holdings in Robinhood Markets by 184.8% in the fourth quarter. FMR LLC now owns 40,237,478 shares of the company’s stock valued at $1,499,248,000 after buying an additional 26,107,934 shares in the last quarter. Federated Hermes Inc. raised its position in shares of Robinhood Markets by 4.7% in the fourth quarter. Federated Hermes Inc. now owns 30,386 shares of the company’s stock worth $1,132,000 after acquiring an additional 1,356 shares during the period. MIG Capital LLC purchased a new stake in shares of Robinhood Markets in the fourth quarter valued at approximately $339,000. Finally, Russell Investments Group Ltd. raised its stake in shares of Robinhood Markets by 43.8% during the 4th quarter. Russell Investments Group Ltd. now owns 1,124,276 shares of the company’s stock worth $41,891,000 after buying an additional 342,350 shares during the period. 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.