Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $42.00 at Deutsche Bank Aktiengesellschaft

Robinhood Markets (NASDAQ:HOOD) had its target price boosted by research analysts at Deutsche Bank Aktiengesellschaft from $36.00 to $42.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price objective would indicate a potential upside of 5.00% from the stock’s previous close.

Other analysts have also issued reports about the company. KeyCorp boosted their price objective on Robinhood Markets from $25.00 to $30.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Piper Sandler boosted their price objective on Robinhood Markets from $36.00 to $42.00 and gave the company an “overweight” rating in a research note on Monday. Morgan Stanley upgraded Robinhood Markets from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $24.00 to $55.00 in a research note on Monday, November 25th. Sanford C. Bernstein boosted their price objective on Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Finally, Barclays boosted their price objective on Robinhood Markets from $23.00 to $26.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.27.

Robinhood Markets Price Performance

Shares of HOOD opened at $40.00 on Thursday. The firm has a market cap of $35.36 billion, a PE ratio of 67.80, a PEG ratio of 0.90 and a beta of 2.09. The stock’s fifty day moving average price is $29.05 and its two-hundred day moving average price is $23.97. Robinhood Markets has a 1 year low of $9.66 and a 1 year high of $40.57.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results 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). The firm had revenue of $637.00 million during the quarter, compared to the consensus estimate of $660.53 million. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The business’s quarterly revenue was up 36.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.09) earnings per share. Sell-side analysts anticipate that Robinhood Markets will post 0.74 earnings per share for the current fiscal year.

Insider Transactions at Robinhood Markets

In related news, insider Daniel Martin Gallagher, Jr. sold 23,293 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $23.42, for a total transaction of $545,522.06. Following the completion of the sale, the insider now directly owns 1,070,000 shares in the company, valued at $25,059,400. This represents a 2.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $22.88, for a total value of $5,720,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 4,442,910 shares of company stock worth $110,642,151. 19.95% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Robinhood Markets

Institutional investors have recently bought and sold shares of the stock. Baker Avenue Asset Management LP boosted its holdings in Robinhood Markets by 77.9% during the 3rd quarter. Baker Avenue Asset Management LP now owns 464,306 shares of the company’s stock valued at $10,874,000 after acquiring an additional 203,354 shares during the period. Bridgewater Associates LP boosted its holdings in Robinhood Markets by 100.4% during the 3rd quarter. Bridgewater Associates LP now owns 330,956 shares of the company’s stock valued at $7,751,000 after acquiring an additional 165,791 shares during the period. EULAV Asset Management boosted its holdings in Robinhood Markets by 22.2% during the 3rd quarter. EULAV Asset Management now owns 550,000 shares of the company’s stock valued at $12,881,000 after acquiring an additional 100,000 shares during the period. Blueshift Asset Management LLC boosted its holdings in Robinhood Markets by 376.5% during the 3rd quarter. Blueshift Asset Management LLC now owns 144,941 shares of the company’s stock valued at $3,395,000 after acquiring an additional 114,525 shares during the period. Finally, Aigen Investment Management LP bought a new position in Robinhood Markets during the 3rd quarter valued at approximately $770,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

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.