Robinhood Markets (NASDAQ:HOOD) Given New $20.00 Price Target at Piper Sandler

Robinhood Markets (NASDAQ:HOOD) had its target price upped by Piper Sandler from $18.00 to $20.00 in a research note issued to investors on Tuesday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other brokerages have also issued reports on HOOD. Needham & Company LLC reissued a hold rating on shares of Robinhood Markets in a research report on Thursday, June 6th. JMP Securities restated a market outperform rating and issued a $30.00 price target on shares of Robinhood Markets in a research note on Friday, June 7th. Citigroup raised their price target on Robinhood Markets from $16.00 to $18.00 and gave the company a sell rating in a research note on Thursday, June 13th. Morgan Stanley raised their price target on Robinhood Markets from $18.00 to $19.00 and gave the company an equal weight rating in a research note on Friday, May 10th. Finally, Wolfe Research upgraded Robinhood Markets from a peer perform rating to an outperform rating and set a $29.00 price target for the company in a research note on Wednesday, June 26th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $21.10.

Robinhood Markets Price Performance

NASDAQ HOOD opened at $22.28 on Tuesday. The firm has a market cap of $19.58 billion, a P/E ratio of 148.53 and a beta of 1.84. The stock’s 50-day moving average is $21.11 and its 200-day moving average is $17.13. Robinhood Markets has a one year low of $7.91 and a one year high of $24.28.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, May 8th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.13. Robinhood Markets had a return on equity of 1.86% and a net margin of 6.22%. The business had revenue of $618.00 million for the quarter, compared to analyst estimates of $552.74 million. During the same quarter last year, the firm earned ($0.57) EPS. Robinhood Markets’s revenue for the quarter was up 40.1% compared to the same quarter last year. Equities analysts anticipate that Robinhood Markets will post 0.57 EPS for the current year.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 25,049 shares of Robinhood Markets stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $17.04, for a total value of $426,834.96. Following the completion of the transaction, the chief executive officer now directly owns 32,584 shares of the company’s stock, valued at approximately $555,231.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Vladimir Tenev sold 25,049 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $17.04, for a total transaction of $426,834.96. Following the completion of the transaction, the chief executive officer now owns 32,584 shares of the company’s stock, valued at approximately $555,231.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Jason Warnick sold 5,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $16.72, for a total value of $83,600.00. Following the sale, the chief financial officer now owns 997,407 shares in the company, valued at approximately $16,676,645.04. The disclosure for this sale can be found here. Insiders sold 1,494,233 shares of company stock valued at $29,762,641 in the last three months. Corporate insiders own 19.95% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Spire Wealth Management bought a new stake in shares of Robinhood Markets in the 4th quarter valued at about $26,000. PNC Financial Services Group Inc. grew its position in shares of Robinhood Markets by 46.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock valued at $29,000 after buying an additional 722 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Robinhood Markets in the 1st quarter valued at about $34,000. Opal Wealth Advisors LLC bought a new stake in shares of Robinhood Markets in the 2nd quarter valued at about $45,000. Finally, GAMMA Investing LLC grew its position in shares of Robinhood Markets by 44.9% in the 2nd quarter. GAMMA Investing LLC now owns 2,290 shares of the company’s stock valued at $52,000 after buying an additional 710 shares during the last quarter. 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.