Brokerages Set Robinhood Markets, Inc. (NASDAQ:HOOD) Price Target at $53.24

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) has been given an average rating of "Moderate Buy" by the eighteen brokerages that are presently covering the stock, Marketbeat reports. Six research analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $53.24.

Several equities analysts have commented on HOOD shares. JPMorgan Chase & Co. upped their price objective on Robinhood Markets from $44.00 to $47.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. Citigroup reduced their price target on shares of Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 2nd. Mizuho boosted their price objective on shares of Robinhood Markets from $60.00 to $65.00 and gave the company an "outperform" rating in a research report on Friday, February 7th. Piper Sandler raised their target price on shares of Robinhood Markets from $54.00 to $75.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Robinhood Markets from $75.00 to $61.00 and set a "buy" rating for the company in a report on Wednesday, March 12th.

Robinhood Markets Trading Up 1.1 %

HOOD traded up $0.58 during trading hours on Friday, hitting $54.65. The company's stock had a trading volume of 44,231,692 shares, compared to its average volume of 26,094,314. The stock has a market cap of $48.39 billion, a price-to-earnings ratio of 34.81, a P/E/G ratio of 1.05 and a beta of 2.15. The business's 50-day moving average price is $43.38 and its 200-day moving average price is $42.50. Robinhood Markets has a 12 month low of $13.98 and a 12 month high of $66.91.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.41 by ($0.04). The company had revenue of $927.00 million for the quarter, compared to analysts' expectations of $917.12 million. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. The company's revenue for the quarter was up 50.0% on a year-over-year basis. During the same quarter last year, the company earned $0.18 earnings per share. On average, analysts forecast that Robinhood Markets will post 1.35 earnings per share for the current year.

Insider Activity at Robinhood Markets

In other news, Director Baiju Bhatt sold 522,180 shares of the business's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $62.70, for a total transaction of $32,740,686.00. Following the transaction, the director now directly owns 5,042 shares in the company, valued at $316,133.40. The trade was a 99.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Steven M. Quirk sold 123,272 shares of the business's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $55.80, for a total value of $6,878,577.60. Following the transaction, the insider now owns 298,826 shares in the company, valued at $16,674,490.80. The trade was a 29.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,243,727 shares of company stock valued at $109,688,747 over the last ninety days. Insiders own 14.47% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Franklin Resources Inc. acquired a new position in shares of Robinhood Markets in the third quarter valued at approximately $6,321,000. Wedmont Private Capital purchased a new stake in Robinhood Markets in the 4th quarter worth approximately $386,000. Friedenthal Financial acquired a new position in Robinhood Markets in the 4th quarter valued at $764,000. Pallas Capital Advisors LLC lifted its stake in shares of Robinhood Markets by 51.3% during the 4th quarter. Pallas Capital Advisors LLC now owns 31,657 shares of the company's stock worth $1,180,000 after purchasing an additional 10,727 shares during the period. Finally, AdvisorNet Financial Inc boosted its holdings in shares of Robinhood Markets by 34.6% during the fourth quarter. AdvisorNet Financial Inc now owns 3,372 shares of the company's stock worth $126,000 after purchasing an additional 867 shares during the last quarter. 93.27% of the stock is owned by hedge funds and other 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.