Keefe, Bruyette & Woods Issues Positive Forecast for Robinhood Markets (NASDAQ:HOOD) Stock Price

Robinhood Markets (NASDAQ:HOOD) had its price objective upped by analysts at Keefe, Bruyette & Woods from $24.00 to $38.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price objective would indicate a potential downside of 0.86% from the company’s previous close.

A number of other brokerages also recently commented on HOOD. The Goldman Sachs Group upgraded shares of Robinhood Markets from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $40.00 to $46.00 in a research note on Friday, December 6th. Barclays raised Robinhood Markets from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $26.00 to $49.00 in a research report on Monday, December 9th. Needham & Company LLC restated a “buy” rating and set a $52.00 target price (up previously from $40.00) on shares of Robinhood Markets in a research note on Monday, December 9th. Morgan Stanley raised Robinhood Markets from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $24.00 to $55.00 in a report on Monday, November 25th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Robinhood Markets from $36.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $39.20.

Robinhood Markets Stock Performance

Shares of HOOD opened at $38.33 on Friday. Robinhood Markets has a 1 year low of $10.38 and a 1 year high of $43.83. The stock has a market capitalization of $33.88 billion, a PE ratio of 64.97, a PEG ratio of 0.76 and a beta of 2.09. The stock has a 50-day simple moving average of $33.11 and a 200-day simple moving average of $25.62.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results 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 return on equity of 7.52% and a net margin of 21.80%. The firm had revenue of $637.00 million during the quarter, compared to analysts’ expectations of $660.53 million. During the same quarter in the prior year, the firm earned ($0.09) EPS. The firm’s revenue was up 36.4% compared to the same quarter last year. Analysts predict that Robinhood Markets will post 0.8 EPS for the current year.

Insider Buying and Selling

In related news, Director Baiju Bhatt sold 98,404 shares of the firm’s stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $26.40, for a total transaction of $2,597,865.60. Following the transaction, the director now owns 2,521 shares of the company’s stock, valued at $66,554.40. This trade represents a 97.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the company’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $22.37, for a total value of $279,625.00. Following the sale, the insider now directly owns 1,057,500 shares of the company’s stock, valued at approximately $23,656,275. This represents a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,037,689 shares of company stock worth $177,092,487 in the last 90 days. Company insiders own 19.95% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. HM Payson & Co. boosted 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 purchasing an additional 410 shares in the last quarter. True Wealth Design LLC acquired a new stake in shares of Robinhood Markets in the third quarter valued at about $30,000. Eastern Bank purchased a new stake in Robinhood Markets during the third quarter worth about $30,000. ORG Wealth Partners LLC acquired a new position in Robinhood Markets during the third quarter worth about $33,000. Finally, International Assets Investment Management LLC purchased a new position in Robinhood Markets in the second quarter valued at about $40,000. Institutional investors and hedge funds 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.