Robinhood Markets (NASDAQ:HOOD) Lifted to “Buy” at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft upgraded shares of Robinhood Markets (NASDAQ:HOOD) from a hold rating to a buy rating in a report issued on Thursday, Marketbeat reports. They currently have $24.00 price objective on the stock, up from their previous price objective of $21.00.

Several other equities analysts have also weighed in on HOOD. Mizuho raised their target price on Robinhood Markets from $20.00 to $21.00 and gave the company a buy rating in a report on Monday, May 6th. JPMorgan Chase & Co. raised their target price on Robinhood Markets from $16.00 to $17.00 and gave the company an underweight rating in a report on Thursday, August 8th. Barclays cut their target price on Robinhood Markets from $20.00 to $18.00 and set an underweight rating on the stock in a report on Monday, August 12th. Bank of America raised their target price on Robinhood Markets from $28.00 to $32.00 and gave the company a buy rating in a report on Monday, August 12th. Finally, Needham & Company LLC restated a hold rating on shares of Robinhood Markets in a report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $22.70.

Robinhood Markets Stock Performance

Shares of HOOD opened at $19.98 on Thursday. The firm has a market cap of $17.56 billion, a PE ratio of 133.20 and a beta of 1.83. The firm’s 50 day moving average price is $21.46 and its 200 day moving average price is $18.70. Robinhood Markets has a twelve month low of $7.91 and a twelve month high of $24.88.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.05. The business had revenue of $682.00 million for the quarter, compared to the consensus estimate of $640.39 million. Robinhood Markets had a net margin of 6.22% and a return on equity of 1.86%. Robinhood Markets’s revenue for the quarter was up 40.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.03 EPS. On average, sell-side analysts anticipate that Robinhood Markets will post 0.57 earnings per share for the current fiscal year.

Insider Activity at Robinhood Markets

In related news, CEO Vladimir Tenev sold 47,570 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $21.12, for a total transaction of $1,004,678.40. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO Vladimir Tenev sold 47,570 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $21.12, for a total transaction of $1,004,678.40. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Baiju Bhatt sold 116,669 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $22.02, for a total value of $2,569,051.38. The disclosure for this sale can be found here. Insiders have sold 1,375,190 shares of company stock worth $28,071,988 over the last three months. Company insiders own 19.95% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

A number of institutional investors have recently added to or reduced their stakes in HOOD. Spire Wealth Management acquired a new stake in Robinhood Markets during the fourth quarter valued at approximately $26,000. PNC Financial Services Group Inc. boosted its holdings in Robinhood Markets by 46.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock valued at $29,000 after purchasing an additional 722 shares in the last quarter. ORG Partners LLC acquired a new stake in Robinhood Markets during the second quarter valued at approximately $33,000. Allspring Global Investments Holdings LLC acquired a new stake in Robinhood Markets during the first quarter valued at approximately $34,000. Finally, International Assets Investment Management LLC acquired a new stake in Robinhood Markets during the second quarter valued at approximately $40,000. 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.