Robinhood Markets, Inc. (NASDAQ:HOOD) Receives $26.10 Average Target Price from Analysts

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) have earned an average recommendation of “Moderate Buy” from the sixteen research firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $27.34.

A number of equities research analysts have commented on HOOD shares. Keefe, Bruyette & Woods reduced their target price on Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating on the stock in a research report on Thursday, August 8th. JPMorgan Chase & Co. boosted their price objective on shares of Robinhood Markets from $17.00 to $21.00 and gave the company an “underweight” rating in a report on Thursday, October 17th. Barclays increased their target price on shares of Robinhood Markets from $23.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. JMP Securities lifted their price target on shares of Robinhood Markets from $33.00 to $40.00 and gave the company a “market outperform” rating in a research report on Tuesday, November 12th. Finally, Morgan Stanley upped their price objective on shares of Robinhood Markets from $22.00 to $24.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th.

Robinhood Markets Price Performance

Shares of HOOD stock opened at $35.24 on Friday. The company has a market capitalization of $31.15 billion, a PE ratio of 59.73, a price-to-earnings-growth ratio of 0.77 and a beta of 1.84. The firm’s 50-day moving average is $26.09 and its two-hundred day moving average is $22.62. Robinhood Markets has a 12 month low of $7.96 and a 12 month high of $36.32.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $660.53 million. During the same quarter in the prior year, the business earned ($0.09) EPS. The firm’s quarterly revenue was up 36.4% on a year-over-year basis. Sell-side analysts forecast that Robinhood Markets will post 0.72 EPS for the current year.

Insiders Place Their Bets

In other Robinhood Markets news, Director Baiju Bhatt sold 139,916 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $19.55, for a total transaction of $2,735,357.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $19.26, for a total transaction of $4,815,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 4,710,549 shares of company stock worth $115,477,194 in the last quarter. 19.95% of the stock is owned by company insiders.

Institutional Trading of Robinhood Markets

A number of institutional investors have recently bought and sold shares of HOOD. Toronto Dominion Bank grew its position in shares of Robinhood Markets by 31.1% in the 3rd quarter. Toronto Dominion Bank now owns 68,408 shares of the company’s stock valued at $1,602,000 after buying an additional 16,219 shares during the last quarter. Geode Capital Management LLC boosted its stake in Robinhood Markets by 19.5% in the third quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company’s stock valued at $271,708,000 after acquiring an additional 1,895,427 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Robinhood Markets by 15.5% during the third quarter. Public Employees Retirement System of Ohio now owns 303,629 shares of the company’s stock worth $7,111,000 after purchasing an additional 40,647 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its position in shares of Robinhood Markets by 12.6% during the third quarter. Nomura Asset Management Co. Ltd. now owns 154,100 shares of the company’s stock worth $3,609,000 after purchasing an additional 17,200 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Robinhood Markets in the 3rd quarter valued at about $1,965,000. 93.27% of the stock is owned by hedge funds and other 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.