Robinhood Markets (NASDAQ:HOOD) Price Target Increased to $27.00 by Analysts at Piper Sandler

Robinhood Markets (NASDAQ:HOOD) had its price objective raised by Piper Sandler from $23.00 to $27.00 in a report published on Thursday morning, Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Several other analysts also recently issued reports on the company. Needham & Company LLC restated a hold rating on shares of Robinhood Markets in a research note on Thursday, August 8th. Morgan Stanley boosted their target price on shares of Robinhood Markets from $20.00 to $21.00 and gave the company an equal weight rating in a research report on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft raised shares of Robinhood Markets from a hold rating to a buy rating and raised their price target for the stock from $21.00 to $24.00 in a research report on Thursday, August 15th. Bank of America boosted their price objective on shares of Robinhood Markets from $28.00 to $32.00 and gave the company a buy rating in a report on Monday, August 12th. Finally, The Goldman Sachs Group raised their target price on shares of Robinhood Markets from $19.00 to $21.00 and gave the stock a neutral rating in a report on Thursday, July 11th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $23.10.

Robinhood Markets Price Performance

Shares of HOOD opened at $22.81 on Thursday. The company’s 50-day moving average is $20.56 and its 200-day moving average is $19.89. The firm has a market capitalization of $20.05 billion, a PE ratio of 152.07 and a beta of 1.82. Robinhood Markets has a fifty-two week low of $7.91 and a fifty-two week high of $24.88.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.05. Robinhood Markets had a net margin of 12.96% and a return on equity of 4.25%. The firm had revenue of $682.00 million for the quarter, compared to analysts’ expectations of $640.39 million. During the same period in the prior year, the firm earned $0.03 EPS. The business’s revenue was up 40.3% on a year-over-year basis. Analysts predict that Robinhood Markets will post 0.76 earnings per share for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In other news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the business’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $22.80, for a total transaction of $285,000.00. Following the completion of the transaction, the insider now owns 956,247 shares of the company’s stock, valued at approximately $21,802,431.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $22.80, for a total value of $285,000.00. Following the sale, the insider now directly owns 956,247 shares in the company, valued at approximately $21,802,431.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $22.50, for a total transaction of $5,625,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,204,096 shares of company stock valued at $23,603,793. 19.95% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of HOOD. PNC Financial Services Group Inc. increased its holdings in Robinhood Markets by 46.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock worth $29,000 after purchasing an additional 722 shares in the last quarter. ORG Partners LLC acquired a new position in shares of Robinhood Markets in the second quarter valued at approximately $33,000. Allspring Global Investments Holdings LLC bought a new position in Robinhood Markets in the 1st quarter valued at approximately $34,000. International Assets Investment Management LLC bought a new position in Robinhood Markets in the 2nd quarter valued at approximately $40,000. Finally, Opal Wealth Advisors LLC acquired a new stake in Robinhood Markets during the 2nd quarter worth approximately $45,000. 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.