Piper Sandler Issues Positive Forecast for Robinhood Markets (NASDAQ:HOOD) Stock Price

Robinhood Markets (NASDAQ:HOOD) had its target price boosted by investment analysts at Piper Sandler from $30.00 to $36.00 in a report issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s target price suggests a potential upside of 3.48% from the stock’s previous close.

Several other brokerages have also recently issued reports on HOOD. Barclays raised their target price on shares of Robinhood Markets from $23.00 to $26.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Needham & Company LLC upgraded Robinhood Markets from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research note on Monday. The Goldman Sachs Group lowered their target price on Robinhood Markets from $25.00 to $22.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft boosted their price target on Robinhood Markets from $27.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of 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 given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $27.34.

Robinhood Markets Stock Performance

HOOD traded up $2.47 during trading on Monday, reaching $34.79. The stock had a trading volume of 19,041,740 shares, compared to its average volume of 16,002,622. The stock has a market cap of $30.75 billion, a PE ratio of 58.97, a PEG ratio of 0.77 and a beta of 1.84. The business has a 50-day moving average of $25.47 and a 200-day moving average of $22.37. Robinhood Markets has a one year low of $7.96 and a one year high of $35.28.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.01). The company had revenue of $637.00 million during the quarter, compared to the consensus estimate of $660.53 million. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The business’s revenue was up 36.4% on a year-over-year basis. During the same quarter last year, the firm earned ($0.09) EPS. Equities research analysts forecast that Robinhood Markets will post 0.72 EPS for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In related news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $19.33, for a total transaction of $241,625.00. Following the sale, the insider now owns 1,045,068 shares of the company’s stock, valued at $20,201,164.44. This trade represents a 1.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 disclosure for this sale can be found here. Insiders have sold 4,710,549 shares of company stock valued at $115,477,194 in the last quarter. 19.95% of the stock is owned by insiders.

Hedge Funds Weigh In On Robinhood Markets

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in Robinhood Markets by 1.8% in the first quarter. Vanguard Group Inc. now owns 56,828,633 shares of the company’s stock valued at $1,143,960,000 after buying an additional 1,003,535 shares during the last quarter. Baker Avenue Asset Management LP boosted its holdings in shares of Robinhood Markets by 77.9% in the 3rd quarter. Baker Avenue Asset Management LP now owns 464,306 shares of the company’s stock valued at $10,874,000 after acquiring an additional 203,354 shares during the last quarter. UniSuper Management Pty Ltd boosted its holdings in shares of Robinhood Markets by 87.1% in the 1st quarter. UniSuper Management Pty Ltd now owns 5,800 shares of the company’s stock valued at $117,000 after acquiring an additional 2,700 shares during the last quarter. Aigen Investment Management LP acquired a new stake in shares of Robinhood Markets in the third quarter worth $770,000. Finally, Robeco Institutional Asset Management B.V. raised its holdings in shares of Robinhood Markets by 146.7% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,161,240 shares of the company’s stock worth $27,196,000 after purchasing an additional 690,467 shares during the last quarter. 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.