Robinhood Markets (NASDAQ:HOOD) Given New $36.00 Price Target at Piper Sandler

Robinhood Markets (NASDAQ:HOOD) had its price target raised by Piper Sandler from $30.00 to $36.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an overweight rating on the stock.

Other equities analysts have also issued research reports about the stock. Needham & Company LLC raised shares of Robinhood Markets from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research report on Monday. JPMorgan Chase & Co. lifted their price objective on shares of Robinhood Markets from $17.00 to $21.00 and gave the company an “underweight” rating in a research note on Thursday, October 17th. Barclays increased their target price on shares of Robinhood Markets from $23.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft upped their price target on Robinhood Markets from $27.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Finally, Keefe, Bruyette & Woods cut their price objective on Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating on the stock in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $28.66.

Robinhood Markets Stock Performance

Robinhood Markets stock opened at $35.22 on Monday. The firm’s 50 day moving average price is $26.67 and its two-hundred day moving average price is $22.80. The firm has a market cap of $31.14 billion, a PE ratio of 59.70, a P/E/G ratio of 0.82 and a beta of 1.84. Robinhood Markets has a twelve month low of $7.98 and a twelve month high of $38.11.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The firm had revenue of $637.00 million for the quarter, compared to analyst estimates of $660.53 million. During the same period in the previous year, the business posted ($0.09) EPS. Robinhood Markets’s revenue for the quarter was up 36.4% on a year-over-year basis. Equities analysts anticipate that Robinhood Markets will post 0.74 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Vladimir Tenev sold 250,000 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $19.26, for a total value of $4,815,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jason Warnick sold 25,000 shares of the firm’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. Insiders have sold 4,710,549 shares of company stock worth $115,477,194 in the last ninety days. Insiders own 19.95% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HOOD. HM Payson & Co. lifted its position in shares of Robinhood Markets by 53.5% during the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock worth $28,000 after buying an additional 410 shares during the period. True Wealth Design LLC bought a new position in shares of Robinhood Markets during the third quarter valued at $30,000. Eastern Bank acquired a new stake in shares of Robinhood Markets in the 3rd quarter valued at $30,000. ORG Wealth Partners LLC bought a new stake in shares of Robinhood Markets in the 3rd quarter worth about $33,000. Finally, ORG Partners LLC acquired a new stake in shares of Robinhood Markets during the 2nd quarter worth about $33,000. 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.