Robinhood Markets (NASDAQ:HOOD) Given New $17.00 Price Target at Piper Sandler

Robinhood Markets (NASDAQ:HOOD - Free Report) had its target price lifted by Piper Sandler from $12.50 to $17.00 in a research note released on Friday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

Other research analysts have also issued research reports about the company. Sanford C. Bernstein assumed coverage on Robinhood Markets in a report on Thursday, March 14th. They set an outperform rating and a $30.00 price objective for the company. Keefe, Bruyette & Woods assumed coverage on Robinhood Markets in a report on Wednesday, April 3rd. They set a market perform rating and a $20.00 price objective for the company. Mizuho upped their target price on Robinhood Markets from $17.00 to $20.00 and gave the stock a buy rating in a research note on Tuesday, March 19th. Citigroup lowered Robinhood Markets from a neutral rating to a sell rating and upped their target price for the stock from $13.00 to $16.00 in a research note on Thursday. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Robinhood Markets from $12.00 to $16.00 and gave the stock a hold rating in a research note on Tuesday, March 19th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Robinhood Markets has an average rating of Hold and a consensus price target of $18.15.

Robinhood Markets Price Performance

Shares of HOOD traded down $1.03 during midday trading on Friday, hitting $17.97. 9,328,130 shares of the company traded hands, compared to its average volume of 15,045,009. The stock has a 50-day moving average of $16.33 and a 200-day moving average of $12.40. Robinhood Markets has a one year low of $7.91 and a one year high of $20.55. The firm has a market cap of $15.72 billion, a P/E ratio of -29.95 and a beta of 1.69.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its quarterly earnings data on Tuesday, February 13th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.04. Robinhood Markets had a negative return on equity of 7.87% and a negative net margin of 29.01%. The company had revenue of $471.00 million during the quarter, compared to analyst estimates of $454.73 million. During the same quarter in the previous year, the firm earned ($0.19) earnings per share. Robinhood Markets's revenue was up 23.9% on a year-over-year basis. Sell-side analysts forecast that Robinhood Markets will post 0.26 EPS for the current fiscal year.

Insider Activity

In other news, CEO Vladimir Tenev sold 500,000 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $15.12, for a total transaction of $7,560,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Vladimir Tenev sold 500,000 shares of the company's stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $15.12, for a total transaction of $7,560,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Baiju Bhatt sold 482,667 shares of the company's stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $15.10, for a total value of $7,288,271.70. Following the transaction, the insider now owns 36,045 shares of the company's stock, valued at approximately $544,279.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,212,150 shares of company stock valued at $33,495,819. 20.81% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Robinhood Markets

A number of institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised 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. Commerce Bank raised its holdings in Robinhood Markets by 7.9% in the fourth quarter. Commerce Bank now owns 12,459 shares of the company's stock worth $159,000 after purchasing an additional 917 shares in the last quarter. DekaBank Deutsche Girozentrale raised its holdings in Robinhood Markets by 4.7% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 23,642 shares of the company's stock worth $310,000 after purchasing an additional 1,060 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of Robinhood Markets by 3.8% during the third quarter. Commonwealth Equity Services LLC now owns 29,314 shares of the company's stock valued at $296,000 after acquiring an additional 1,082 shares in the last quarter. Finally, Creative Planning increased its holdings in shares of Robinhood Markets by 6.1% during the fourth quarter. Creative Planning now owns 19,830 shares of the company's stock valued at $161,000 after acquiring an additional 1,146 shares in the last quarter. Institutional investors own 93.27% of the company's stock.

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.