Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $45.00

Robinhood Markets (NASDAQ:HOOD) had its price target hoisted by Citigroup from $25.00 to $45.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a neutral rating on the stock.

Several other research analysts have also recently commented on the stock. JPMorgan Chase & Co. raised shares of Robinhood Markets from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $20.00 to $43.00 in a research report on Tuesday. Sanford C. Bernstein increased their target price on Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft lifted their price target on Robinhood Markets from $36.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Barclays upgraded Robinhood Markets from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $26.00 to $49.00 in a report on Monday, December 9th. Finally, Keefe, Bruyette & Woods boosted their target price on Robinhood Markets from $24.00 to $38.00 and gave the stock a “market perform” rating in a research note on Friday, December 20th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $42.13.

Robinhood Markets Trading Down 1.8 %

Shares of NASDAQ HOOD opened at $40.08 on Friday. The stock has a market cap of $35.43 billion, a P/E ratio of 67.93, a PEG ratio of 0.81 and a beta of 2.07. The business’s fifty day simple moving average is $36.99 and its 200-day simple moving average is $27.42. Robinhood Markets has a 12-month low of $10.38 and a 12-month high of $43.83.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.01). Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The company had revenue of $637.00 million during the quarter, compared to analysts’ expectations of $660.53 million. During the same quarter in the previous year, the business posted ($0.09) EPS. The business’s quarterly revenue was up 36.4% compared to the same quarter last year. On average, equities analysts forecast that Robinhood Markets will post 0.8 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Steven M. Quirk sold 19,861 shares of the firm’s stock in a transaction that occurred on Sunday, December 1st. The stock was sold at an average price of $37.54, for a total value of $745,581.94. Following the completion of the sale, the insider now directly owns 395,166 shares of the company’s stock, valued at $14,834,531.64. This trade represents a 4.79 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Meyer Malka sold 1,535,681 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $40.11, for a total value of $61,596,164.91. Following the transaction, the director now directly owns 4,974,238 shares in the company, valued at $199,516,686.18. This represents a 23.59 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,708,196 shares of company stock valued at $138,845,043. 19.95% of the stock is owned by company insiders.

Institutional Investors Weigh In On Robinhood Markets

Institutional investors have recently made changes to their positions in the stock. HM Payson & Co. increased its holdings in shares of Robinhood Markets by 53.5% in the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after purchasing an additional 410 shares in the last quarter. Eastern Bank acquired a new position in Robinhood Markets during the third quarter worth about $30,000. True Wealth Design LLC acquired a new position in Robinhood Markets during the third quarter worth about $30,000. ORG Wealth Partners LLC purchased a new position in Robinhood Markets in the third quarter valued at about $33,000. Finally, Connective Portfolio Management LLC acquired a new stake in shares of Robinhood Markets during the 3rd quarter valued at approximately $47,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

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.