Robinhood Markets, Inc. (NASDAQ:HOOD) Receives Consensus Rating of “Moderate Buy” from Analysts

Robinhood Markets, Inc. (NASDAQ:HOOD) has received a consensus rating of “Moderate Buy” from the fifteen analysts that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and twelve have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $39.20.

Several equities analysts have recently weighed in on the company. The Goldman Sachs Group upgraded Robinhood Markets from a “neutral” rating to a “buy” rating and raised their target price for the company from $40.00 to $46.00 in a research report on Friday, December 6th. JMP Securities boosted their price objective on Robinhood Markets from $33.00 to $40.00 and gave the stock a “market outperform” rating in a research note on Tuesday, November 12th. Sanford C. Bernstein lifted their target price on shares of Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. Barclays raised shares of Robinhood Markets from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $26.00 to $49.00 in a research report on Monday, December 9th. Finally, Morgan Stanley raised Robinhood Markets from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $24.00 to $55.00 in a research report on Monday, November 25th.

Insider Activity

In other news, Director Baiju Bhatt sold 98,404 shares of Robinhood Markets stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $26.40, for a total transaction of $2,597,865.60. Following the sale, the director now owns 2,521 shares in the company, valued at approximately $66,554.40. The trade was a 97.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction on Monday, November 4th. The shares were sold at an average price of $24.21, for a total transaction of $6,052,500.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,807,772 shares of company stock worth $211,393,158. 19.95% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Robinhood Markets

Several institutional investors have recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC lifted its holdings in Robinhood Markets by 141.5% in the second quarter. Commonwealth Equity Services LLC now owns 111,316 shares of the company’s stock valued at $2,528,000 after acquiring an additional 65,215 shares during the period. Natixis Advisors LLC purchased a new stake in Robinhood Markets during the second quarter worth about $536,000. CIBC Asset Management Inc boosted its position in Robinhood Markets by 76.4% during the second quarter. CIBC Asset Management Inc now owns 21,007 shares of the company’s stock worth $477,000 after purchasing an additional 9,095 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Robinhood Markets by 4.2% in the second quarter. Rhumbline Advisers now owns 712,848 shares of the company’s stock valued at $16,189,000 after purchasing an additional 28,574 shares in the last quarter. Finally, TD Asset Management Inc grew its position in shares of Robinhood Markets by 1,653.4% in the second quarter. TD Asset Management Inc now owns 613,706 shares of the company’s stock valued at $13,937,000 after purchasing an additional 578,706 shares during the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

Robinhood Markets Stock Up 4.8 %

Robinhood Markets stock opened at $41.35 on Monday. The business’s 50-day moving average price is $35.52 and its 200 day moving average price is $26.82. Robinhood Markets has a 52 week low of $10.38 and a 52 week high of $43.83. The firm has a market cap of $36.55 billion, a price-to-earnings ratio of 70.09, a price-to-earnings-growth ratio of 0.81 and a beta of 2.09.

Robinhood Markets (NASDAQ:HOOD) last released 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 net margin of 21.80% and a return on equity of 7.52%. The company had revenue of $637.00 million during the quarter, compared to analyst estimates of $660.53 million. During the same period in the prior year, the business posted ($0.09) EPS. Robinhood Markets’s revenue was up 36.4% compared to the same quarter last year. Equities analysts expect that Robinhood Markets will post 0.8 EPS for the current year.

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.