Brokerages Set Robinhood Markets, Inc. (NASDAQ:HOOD) Target Price at $24.97

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) have been assigned a consensus recommendation of “Hold” from the sixteen ratings firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $24.97.

A number of equities research analysts have weighed in on HOOD shares. Keefe, Bruyette & Woods cut their price target on shares of Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating for the company in a report on Thursday, August 8th. The Goldman Sachs Group increased their target price on shares of Robinhood Markets from $22.50 to $25.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Citigroup raised their target price on shares of Robinhood Markets from $19.00 to $23.00 and gave the stock a “neutral” rating in a report on Friday, September 27th. Needham & Company LLC reaffirmed a “hold” rating on shares of Robinhood Markets in a report on Thursday, August 8th. Finally, Bank of America increased their price objective on Robinhood Markets from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, August 12th.

Robinhood Markets Price Performance

Shares of NASDAQ:HOOD opened at $27.06 on Wednesday. The stock’s 50 day moving average price is $22.84 and its 200 day moving average price is $21.11. The stock has a market cap of $23.78 billion, a price-to-earnings ratio of 180.40 and a beta of 1.84. Robinhood Markets has a 12 month low of $7.91 and a 12 month high of $27.75.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.05. Robinhood Markets had a return on equity of 4.25% and a net margin of 12.96%. The company had revenue of $682.00 million for the quarter, compared to the consensus estimate of $640.39 million. During the same quarter in the previous year, the business earned $0.03 EPS. The company’s quarterly revenue was up 40.3% compared to the same quarter last year. On average, sell-side analysts expect that Robinhood Markets will post 0.76 EPS for the current year.

Insider Activity

In related news, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $16.05, for a total transaction of $4,012,500.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $16.05, for a total value of $4,012,500.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Meyer Malka sold 3,225,806 shares of the business’s stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $25.07, for a total value of $80,870,956.42. Following the completion of the sale, the director now directly owns 29,357,336 shares of the company’s stock, valued at approximately $735,988,413.52. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,639,654 shares of company stock worth $110,241,632 in the last 90 days. Company insiders own 19.95% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. PNC Financial Services Group Inc. boosted its holdings in Robinhood Markets by 46.5% in the fourth 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. Eastern Bank bought a new stake in shares of Robinhood Markets during the 3rd quarter worth about $30,000. ORG Partners LLC acquired a new position in shares of Robinhood Markets during the 2nd quarter valued at about $33,000. ORG Wealth Partners LLC bought a new position in shares of Robinhood Markets in the 3rd quarter valued at approximately $33,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Robinhood Markets in the 1st quarter worth approximately $34,000. 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.