KeyCorp Forecasts Strong Price Appreciation for Robinhood Markets (NASDAQ:HOOD) Stock

Robinhood Markets (NASDAQ:HOOD) had its price objective upped by equities research analysts at KeyCorp from $50.00 to $57.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. KeyCorp’s price objective would indicate a potential upside of 9.18% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. Keefe, Bruyette & Woods upped their price objective on Robinhood Markets from $24.00 to $38.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. The Goldman Sachs Group upgraded shares of Robinhood Markets from a “neutral” rating to a “buy” rating and boosted their target price for the company from $40.00 to $46.00 in a research note on Friday, December 6th. Deutsche Bank Aktiengesellschaft lifted their price objective on Robinhood Markets from $36.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Needham & Company LLC reissued a “buy” rating and issued a $52.00 target price (up previously from $40.00) on shares of Robinhood Markets in a report on Monday, December 9th. Finally, Piper Sandler upped their price target on shares of Robinhood Markets from $36.00 to $42.00 and gave the company an “overweight” rating in a research report on Monday, December 2nd. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Robinhood Markets has a consensus rating of “Moderate Buy” and a consensus target price of $43.73.

Robinhood Markets Price Performance

Shares of NASDAQ:HOOD opened at $52.21 on Thursday. The business has a fifty day moving average price of $41.22 and a 200-day moving average price of $29.74. The company has a market capitalization of $46.15 billion, a PE ratio of 87.97, a PEG ratio of 0.67 and a beta of 2.07. Robinhood Markets has a 1-year low of $10.51 and a 1-year high of $52.14.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results 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 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 period last year, the firm posted ($0.09) earnings per share. The firm’s quarterly revenue was up 36.4% on a year-over-year basis. On average, sell-side analysts anticipate that Robinhood Markets will post 0.97 earnings per share for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, Director Baiju Bhatt sold 108,964 shares of Robinhood Markets stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $24.92, for a total value of $2,715,382.88. Following the sale, the director now owns 2,521 shares of the company’s stock, valued at $62,823.32. The trade was a 97.74 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $47.82, for a total value of $280,990.32. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,297,400 shares of company stock worth $170,630,852. Insiders own 19.95% of the company’s stock.

Institutional Trading of Robinhood Markets

Institutional investors have recently bought and sold shares of the stock. FMR LLC lifted its holdings in shares of Robinhood Markets by 31.3% in the 3rd quarter. FMR LLC now owns 14,129,544 shares of the company’s stock worth $330,914,000 after acquiring an additional 3,368,118 shares during the last quarter. State Street Corp grew its stake in shares of Robinhood Markets by 8.7% during the third quarter. State Street Corp now owns 13,558,321 shares of the company’s stock valued at $317,536,000 after buying an additional 1,085,679 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Robinhood Markets by 19.5% in the third quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company’s stock worth $271,708,000 after buying an additional 1,895,427 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Robinhood Markets by 33.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,581,465 shares of the company’s stock worth $107,298,000 after acquiring an additional 1,137,677 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Robinhood Markets by 19.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,557,301 shares of the company’s stock worth $179,463,000 after acquiring an additional 739,631 shares during the last quarter. 93.27% of the stock is currently owned by 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.