Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $75.00

Robinhood Markets (NASDAQ:HOOD) had its target price upped by investment analysts at Piper Sandler from $54.00 to $75.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price objective indicates a potential upside of 19.31% from the company’s current price.

Several other research analysts have also recently commented on HOOD. KeyCorp boosted their target price on Robinhood Markets from $57.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday. Morgan Stanley raised their price objective on shares of Robinhood Markets from $64.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday. Raymond James initiated coverage on shares of Robinhood Markets in a research note on Wednesday, February 5th. They set a “market perform” rating for the company. Needham & Company LLC increased their price target on shares of Robinhood Markets from $52.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Barclays raised their price target on Robinhood Markets from $54.00 to $76.00 and gave the company an “overweight” rating in a report on Thursday. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $56.93.

Robinhood Markets Trading Up 12.4 %

HOOD traded up $6.95 during mid-day trading on Thursday, hitting $62.86. 42,423,793 shares of the stock were exchanged, compared to its average volume of 22,420,699. The company has a market cap of $55.57 billion, a PE ratio of 106.24, a PEG ratio of 0.73 and a beta of 2.13. The firm’s fifty day moving average is $44.48 and its two-hundred day moving average is $31.90. Robinhood Markets has a 1-year low of $12.77 and a 1-year high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.13. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. As a group, research analysts anticipate that Robinhood Markets will post 0.97 earnings per share for the current year.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $39.16, for a total value of $29,370,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Baiju Bhatt sold 186,514 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $38.13, for a total value of $7,111,778.82. Following the sale, the director now owns 2,521 shares in the company, valued at $96,125.73. This trade represents a 98.67 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,948,427 shares of company stock valued at $165,005,244. Company insiders own 19.95% of the company’s stock.

Institutional Trading of Robinhood Markets

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dorsey & Whitney Trust CO LLC boosted its position in shares of Robinhood Markets by 2.4% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company’s stock worth $368,000 after acquiring an additional 233 shares during the last quarter. First Horizon Advisors Inc. boosted its holdings in shares of Robinhood Markets by 7.8% in the 4th quarter. First Horizon Advisors Inc. now owns 3,822 shares of the company’s stock valued at $142,000 after purchasing an additional 277 shares during the last quarter. HM Payson & Co. boosted 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 during the last quarter. Commerce Bank grew its stake in shares of Robinhood Markets by 3.3% during the 3rd quarter. Commerce Bank now owns 13,245 shares of the company’s stock valued at $310,000 after buying an additional 423 shares during the period. Finally, Signaturefd LLC increased its holdings in shares of Robinhood Markets by 16.5% during the 3rd quarter. Signaturefd LLC now owns 3,437 shares of the company’s stock worth $80,000 after buying an additional 487 shares during the last quarter. Hedge funds and other institutional investors 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.