Robinhood Markets (NASDAQ:HOOD) Given New $51.00 Price Target at Sanford C. Bernstein

Robinhood Markets (NASDAQ:HOOD) had its target price upped by analysts at Sanford C. Bernstein from $30.00 to $51.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Sanford C. Bernstein’s target price would indicate a potential upside of 44.80% from the company’s current price.

A number of other equities analysts have also weighed in on the company. KeyCorp increased their price target on Robinhood Markets from $25.00 to $30.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Piper Sandler boosted their price target on Robinhood Markets from $30.00 to $36.00 and gave the company an “overweight” rating in a research note on Monday. The Goldman Sachs Group reduced their price objective on Robinhood Markets from $25.00 to $22.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. JMP Securities upped their price objective on Robinhood Markets from $33.00 to $40.00 and gave the company a “market outperform” rating in a report on Tuesday, November 12th. Finally, Citigroup upped their price objective on Robinhood Markets from $19.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, September 27th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $28.66.

Robinhood Markets Stock Down 2.4 %

NASDAQ:HOOD opened at $35.22 on Wednesday. The stock has a fifty day simple moving average of $26.67 and a 200-day simple moving average of $22.80. Robinhood Markets has a 52-week low of $7.98 and a 52-week high of $38.11. The company has a market capitalization of $31.14 billion, a PE ratio of 59.70, a price-to-earnings-growth ratio of 0.82 and a beta of 1.84.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 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 company had revenue of $637.00 million for the quarter, compared to analyst estimates of $660.53 million. During the same period last year, the firm posted ($0.09) earnings per share. The business’s revenue was up 36.4% on a year-over-year basis. As a group, equities analysts anticipate that Robinhood Markets will post 0.74 earnings per share for the current year.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the business’s stock in a transaction on 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 in the company, valued at approximately $20,201,164.44. The trade was a 1.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jason Warnick sold 25,000 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $20.96, for a total value of $524,000.00. Following the completion of the transaction, the chief financial officer now directly owns 1,077,162 shares of the company’s stock, valued at approximately $22,577,315.52. This trade represents a 2.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,710,549 shares of company stock valued at $115,477,194. Corporate insiders own 19.95% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

Institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC acquired a new stake in Robinhood Markets during the first quarter worth about $34,000. Acadian Asset Management LLC acquired a new stake in Robinhood Markets in the 1st quarter valued at about $270,000. O Shaughnessy Asset Management LLC bought a new stake in shares of Robinhood Markets during the 1st quarter worth $206,000. UniSuper Management Pty Ltd lifted its position in shares of Robinhood Markets by 87.1% in the 1st quarter. UniSuper Management Pty Ltd now owns 5,800 shares of the company’s stock valued at $117,000 after acquiring an additional 2,700 shares in the last quarter. Finally, Natixis purchased a new position in Robinhood Markets during the 1st quarter valued at about $378,000. 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.