Robinhood Markets, Inc. (NASDAQ:HOOD) Receives $61.29 Average Price Target from Analysts

Robinhood Markets, Inc. (NASDAQ:HOOD) has been given an average recommendation of “Moderate Buy” by the eighteen brokerages that are presently covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $61.29.

A number of analysts recently issued reports on HOOD shares. Compass Point started coverage on shares of Robinhood Markets in a research note on Wednesday, March 19th. They issued a “buy” rating and a $61.00 price target for the company. Morgan Stanley upped their target price on shares of Robinhood Markets from $64.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. The Goldman Sachs Group upgraded Robinhood Markets from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $40.00 to $46.00 in a research note on Friday, December 6th. JMP Securities boosted their price objective on Robinhood Markets from $60.00 to $77.00 and gave the company a “market outperform” rating in a report on Thursday, February 13th. Finally, KeyCorp lifted their target price on Robinhood Markets from $57.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th.

Robinhood Markets Price Performance

Robinhood Markets stock opened at $44.73 on Friday. Robinhood Markets has a 12-month low of $13.98 and a 12-month high of $66.91. The company has a market capitalization of $39.61 billion, a price-to-earnings ratio of 28.49, a price-to-earnings-growth ratio of 1.05 and a beta of 2.14. The firm’s fifty day moving average price is $49.33 and its 200 day moving average price is $37.87.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. Analysts forecast that Robinhood Markets will post 1.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, Director Baiju Bhatt sold 522,180 shares of Robinhood Markets stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $62.70, for a total transaction of $32,740,686.00. Following the sale, the director now owns 5,042 shares of the company’s stock, valued at $316,133.40. The trade was a 99.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $43.36, for a total value of $253,786.08. Following the completion of the transaction, the chief technology officer now directly owns 11,706 shares of the company’s stock, valued at approximately $507,572.16. The trade was a 33.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,955,655 shares of company stock valued at $143,072,448 in the last ninety days. Company insiders own 19.95% of the company’s stock.

Institutional Trading of Robinhood Markets

A number of hedge funds and other institutional investors have recently made changes to their positions in HOOD. Wellington Management Group LLP acquired a new position in shares of Robinhood Markets during the 4th quarter valued at $588,000. Kilter Group LLC acquired a new position in Robinhood Markets during the fourth quarter worth about $240,000. Siemens Fonds Invest GmbH acquired a new position in Robinhood Markets during the fourth quarter worth about $217,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Robinhood Markets in the fourth quarter worth about $4,886,000. Finally, Employees Retirement System of Texas bought a new position in shares of Robinhood Markets during the 4th quarter valued at about $1,609,000. 93.27% of the stock is currently owned by institutional investors.

Robinhood Markets Company Profile

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.