Compass Point Raises Robinhood Markets (NASDAQ:HOOD) Price Target to $96.00

Robinhood Markets (NASDAQ:HOOD - Get Free Report) had its price objective hoisted by Compass Point from $64.00 to $96.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Compass Point's price objective indicates a potential upside of 16.22% from the company's previous close.

Several other equities analysts have also issued reports on the company. The Goldman Sachs Group lifted their price target on Robinhood Markets from $81.00 to $82.00 and gave the company a "buy" rating in a research note on Thursday, June 12th. Morgan Stanley lifted their target price on Robinhood Markets from $40.00 to $43.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 13th. JPMorgan Chase & Co. increased their target price on shares of Robinhood Markets from $44.00 to $47.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Robinhood Markets from $70.00 to $85.00 and gave the stock a "buy" rating in a research report on Monday, June 9th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $71.00 target price on shares of Robinhood Markets in a research note on Tuesday, May 27th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $61.76.

Robinhood Markets Trading Down 2.3%

Robinhood Markets stock traded down $1.92 during trading hours on Friday, reaching $82.60. 9,252,965 shares of the stock were exchanged, compared to its average volume of 27,851,146. Robinhood Markets has a twelve month low of $13.98 and a twelve month high of $85.55. The company has a market cap of $73.14 billion, a P/E ratio of 47.17, a price-to-earnings-growth ratio of 4.88 and a beta of 2.25. The stock has a 50 day moving average of $63.01 and a two-hundred day moving average of $51.16.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.04). Robinhood Markets had a return on equity of 15.42% and a net margin of 48.77%. The firm had revenue of $927.00 million for the quarter, compared to analyst estimates of $917.12 million. During the same quarter in the prior year, the business posted $0.18 EPS. The business's revenue was up 50.0% on a year-over-year basis. On average, analysts expect that Robinhood Markets will post 1.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the company's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $34.51, for a total transaction of $201,987.03. Following the transaction, the chief technology officer now directly owns 5,853 shares of the company's stock, valued at approximately $201,987.03. This represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $41.96, for a total transaction of $31,470,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 2,380,434 shares of company stock valued at $131,340,572 over the last ninety days. 14.47% of the stock is owned by corporate insiders.

Institutional Trading of Robinhood Markets

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. lifted its stake in Robinhood Markets by 170.7% during the 4th quarter. Principal Financial Group Inc. now owns 116,732 shares of the company's stock valued at $4,349,000 after acquiring an additional 73,607 shares in the last quarter. Truist Financial Corp raised its holdings in shares of Robinhood Markets by 26.9% in the fourth quarter. Truist Financial Corp now owns 42,745 shares of the company's stock valued at $1,593,000 after purchasing an additional 9,049 shares during the last quarter. IFP Advisors Inc lifted its position in shares of Robinhood Markets by 601.1% during the fourth quarter. IFP Advisors Inc now owns 4,396 shares of the company's stock valued at $164,000 after purchasing an additional 3,769 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Robinhood Markets by 4.8% during the fourth quarter. Bank of New York Mellon Corp now owns 2,549,758 shares of the company's stock worth $95,004,000 after purchasing an additional 117,342 shares during the last quarter. Finally, NewEdge Wealth LLC bought a new stake in Robinhood Markets in the 4th quarter worth about $1,221,000. 93.27% of the stock is 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.

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