Robinhood Markets (NASDAQ:HOOD) Rating Increased to Buy at Bank of America

Robinhood Markets (NASDAQ:HOOD - Get Free Report) was upgraded by research analysts at Bank of America from an "underperform" rating to a "buy" rating in a research note issued on Friday, Marketbeat.com reports. The firm currently has a $24.00 price objective on the stock, up from their prior price objective of $14.00. Bank of America's price target indicates a potential upside of 19.46% from the company's current price.

Several other equities analysts have also recently issued reports on the company. The Goldman Sachs Group lifted their price target on Robinhood Markets from $18.00 to $20.00 and gave the company a "neutral" rating in a research report on Monday, April 15th. Barclays raised their target price on Robinhood Markets from $16.00 to $18.00 and gave the stock an "underweight" rating in a research report on Thursday, May 9th. Sanford C. Bernstein started coverage on Robinhood Markets in a research report on Thursday, March 14th. They set an "outperform" rating and a $30.00 price objective for the company. Citigroup cut Robinhood Markets from a "neutral" rating to a "sell" rating and boosted their price target for the stock from $13.00 to $16.00 in a research report on Thursday, April 11th. Finally, JPMorgan Chase & Co. lifted their price objective on Robinhood Markets from $10.00 to $12.00 and gave the stock an "underweight" rating in a research note on Wednesday, February 14th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $19.75.

Robinhood Markets Trading Up 12.2 %

NASDAQ HOOD traded up $2.19 during mid-day trading on Friday, reaching $20.09. 53,128,845 shares of the company's stock traded hands, compared to its average volume of 15,447,223. Robinhood Markets has a 1-year low of $7.91 and a 1-year high of $20.55. The company has a fifty day simple moving average of $17.95 and a 200-day simple moving average of $13.72. The company has a market cap of $17.57 billion, a price-to-earnings ratio of 133.27 and a beta of 1.74.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.13. The business had revenue of $618.00 million for the quarter, compared to the consensus estimate of $552.74 million. Robinhood Markets had a return on equity of 1.86% and a net margin of 6.22%. The business's revenue was up 40.1% on a year-over-year basis. During the same quarter last year, the business posted ($0.57) EPS. Equities research analysts forecast that Robinhood Markets will post 0.53 earnings per share for the current fiscal year.

Insider Transactions at Robinhood Markets

In related news, CEO Vladimir Tenev sold 500,000 shares of the company's stock in a transaction dated 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 document filed with the SEC, which is accessible through this hyperlink. In other 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 document filed with the SEC, which can be accessed through this hyperlink. Also, insider Steven M. Quirk sold 60,895 shares of the firm's stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $14.43, for a total transaction of $878,714.85. Following the completion of the transaction, the insider now directly owns 350,769 shares in the company, valued at approximately $5,061,596.67. The disclosure for this sale can be found here. Insiders sold 2,577,873 shares of company stock worth $41,719,157 over the last ninety days. 20.81% of the stock is owned by insiders.

Institutional Investors Weigh In On Robinhood Markets

Several large investors have recently added to or reduced their stakes in the company. Angeles Wealth Management LLC lifted its holdings in shares of Robinhood Markets by 5.3% in the first quarter. Angeles Wealth Management LLC now owns 12,207 shares of the company's stock worth $246,000 after buying an additional 610 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Robinhood Markets by 46.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company's stock valued at $29,000 after purchasing an additional 722 shares during the period. Commerce Bank grew its holdings in Robinhood Markets by 7.9% in the 4th quarter. Commerce Bank now owns 12,459 shares of the company's stock worth $159,000 after acquiring an additional 917 shares during the last quarter. DekaBank Deutsche Girozentrale raised its position in Robinhood Markets by 4.7% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 23,642 shares of the company's stock valued at $310,000 after purchasing an additional 1,060 shares during the last quarter. Finally, Whittier Trust Co. lifted its stake in Robinhood Markets by 25.8% in the first quarter. Whittier Trust Co. now owns 5,828 shares of the company's stock worth $117,000 after acquiring an additional 1,194 shares during the period. Hedge funds and other 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.