KeyCorp Boosts Robinhood Markets (NASDAQ:HOOD) Price Target to $22.00

Robinhood Markets (NASDAQ:HOOD) had its price target boosted by analysts at KeyCorp from $15.00 to $22.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s price target suggests a potential upside of 9.95% from the stock’s current price.

Several other equities analysts have also recently issued reports on the company. JPMorgan Chase & Co. lifted their price objective on Robinhood Markets from $10.00 to $12.00 and gave the stock an “underweight” rating in a report on Wednesday, February 14th. JMP Securities lifted their price objective on Robinhood Markets from $23.00 to $25.00 and gave the stock a “market outperform” rating in a report on Wednesday, February 14th. Sanford C. Bernstein assumed coverage on Robinhood Markets in a report on Thursday, March 14th. They set an “outperform” rating and a $30.00 price objective for the company. Mizuho lifted their price objective on Robinhood Markets from $17.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th. Finally, Redburn Atlantic assumed coverage on Robinhood Markets in a report on Friday, December 1st. They set a “neutral” rating and a $9.50 price objective for the company. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $16.04.

Robinhood Markets Price Performance

HOOD opened at $20.01 on Thursday. The business has a 50 day simple moving average of $14.40 and a 200-day simple moving average of $11.70. The stock has a market capitalization of $17.50 billion, a P/E ratio of -33.35 and a beta of 1.63. Robinhood Markets has a 12 month low of $7.91 and a 12 month high of $20.55.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.04. The business had revenue of $471.00 million during the quarter, compared to analysts’ expectations of $454.73 million. Robinhood Markets had a negative return on equity of 7.87% and a negative net margin of 29.01%. The company’s quarterly revenue was up 23.9% compared to the same quarter last year. During the same period last year, the firm earned ($0.19) EPS. Research analysts anticipate that Robinhood Markets will post 0.23 EPS for the current year.

Insider Buying and Selling

In related news, insider Baiju Bhatt sold 16,667 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $17.17, for a total value of $286,172.39. Following the sale, the insider now directly owns 36,045 shares of the company’s stock, valued at $618,892.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Baiju Bhatt sold 16,667 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $17.17, for a total value of $286,172.39. Following the transaction, the insider now owns 36,045 shares in the company, valued at $618,892.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $10.61, for a total transaction of $132,625.00. Following the completion of the transaction, the insider now owns 738,291 shares in the company, valued at approximately $7,833,267.51. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,435,027 shares of company stock valued at $34,531,948. Insiders own 20.81% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

Several hedge funds and other institutional investors have recently modified their holdings of HOOD. Vanguard Group Inc. boosted its holdings in shares of Robinhood Markets by 7,430.5% during the first quarter. Vanguard Group Inc. now owns 40,217,187 shares of the company’s stock valued at $543,334,000 after acquiring an additional 39,683,128 shares during the period. BlackRock Inc. raised its stake in shares of Robinhood Markets by 66.9% during the third quarter. BlackRock Inc. now owns 19,731,132 shares of the company’s stock valued at $199,283,000 after purchasing an additional 7,910,391 shares in the last quarter. Norges Bank bought a new stake in shares of Robinhood Markets during the fourth quarter valued at about $84,165,000. State Street Corp raised its stake in shares of Robinhood Markets by 266.9% during the second quarter. State Street Corp now owns 5,574,481 shares of the company’s stock valued at $45,822,000 after purchasing an additional 4,055,065 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of Robinhood Markets during the first quarter valued at about $52,986,000. Institutional investors and hedge funds 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.