KeyCorp Raises Robinhood Markets (NASDAQ:HOOD) Price Target to $30.00

Robinhood Markets (NASDAQ:HOOD) had its price target hoisted by equities research analysts at KeyCorp from $25.00 to $30.00 in a report released on Monday, Benzinga reports. The firm presently has an “overweight” rating on the stock. KeyCorp’s price target points to a potential upside of 11.82% from the company’s previous close.

Several other research analysts have also commented on HOOD. JMP Securities restated a “market outperform” rating and issued a $30.00 price objective on shares of Robinhood Markets in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Robinhood Markets from $24.00 to $27.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. The Goldman Sachs Group lifted their price objective on Robinhood Markets from $22.50 to $25.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Piper Sandler reissued an “overweight” rating and issued a $27.00 target price on shares of Robinhood Markets in a research report on Tuesday, October 8th. Finally, Bank of America lifted their price target on Robinhood Markets from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $24.77.

Robinhood Markets Trading Up 1.9 %

Robinhood Markets stock opened at $26.83 on Monday. The firm has a market cap of $23.58 billion, a P/E ratio of 178.87 and a beta of 1.84. Robinhood Markets has a 1-year low of $7.91 and a 1-year high of $27.33. The firm has a 50-day moving average of $22.03 and a 200-day moving average of $20.85.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.05. Robinhood Markets had a return on equity of 4.25% and a net margin of 12.96%. The firm had revenue of $682.00 million for the quarter, compared to analyst estimates of $640.39 million. During the same period last year, the company earned $0.03 EPS. The business’s quarterly revenue was up 40.3% compared to the same quarter last year. Research analysts forecast that Robinhood Markets will post 0.76 earnings per share for the current fiscal year.

Insider Transactions at Robinhood Markets

In related news, Director Meyer Malka sold 3,225,806 shares of the stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $25.07, for a total transaction of $80,870,956.42. Following the sale, the director now directly owns 29,357,336 shares of the company’s stock, valued at approximately $735,988,413.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Robinhood Markets news, Director Meyer Malka sold 3,225,806 shares of the stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $25.07, for a total transaction of $80,870,956.42. Following the sale, the director now directly owns 29,357,336 shares in the company, valued at approximately $735,988,413.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Baiju Bhatt sold 143,944 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $18.73, for a total value of $2,696,071.12. The disclosure for this sale can be found here. Insiders sold a total of 4,541,250 shares of company stock valued at $107,643,767 in the last quarter. 19.95% of the stock is owned by insiders.

Institutional Trading of Robinhood Markets

A number of institutional investors have recently made changes to their positions in HOOD. PNC Financial Services Group Inc. lifted its position 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 during the period. ORG Partners LLC purchased a new stake in Robinhood Markets during the 2nd quarter valued at $33,000. ORG Wealth Partners LLC bought a new position in shares of Robinhood Markets during the 3rd quarter valued at $33,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Robinhood Markets in the 1st quarter worth $34,000. Finally, International Assets Investment Management LLC bought a new stake in shares of Robinhood Markets in the second quarter worth $40,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

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.