Piper Sandler Boosts Robinhood Markets (NASDAQ:HOOD) Price Target to $110.00

Robinhood Markets (NASDAQ:HOOD - Free Report) had its price target increased by Piper Sandler from $70.00 to $110.00 in a research report report published on Tuesday,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

A number of other equities analysts also recently issued reports on the company. Redburn Atlantic reiterated a "sell" rating and set a $48.00 price target (up previously from $40.00) on shares of Robinhood Markets in a research note on Monday, June 9th. JMP Securities lifted their price target on Robinhood Markets from $70.00 to $125.00 and gave the company a "market outperform" rating in a research note on Monday. KeyCorp boosted their target price on Robinhood Markets from $60.00 to $110.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Morgan Stanley boosted their target price on Robinhood Markets from $43.00 to $110.00 and gave the stock an "equal weight" rating in a research note on Tuesday. Finally, Compass Point boosted their target price on Robinhood Markets from $64.00 to $96.00 and gave the stock a "buy" rating in a research note on Friday, June 27th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $85.29.

Robinhood Markets Price Performance

Shares of HOOD traded down $0.42 during trading hours on Tuesday, hitting $99.54. The stock had a trading volume of 45,708,985 shares, compared to its average volume of 30,516,724. The firm has a 50 day simple moving average of $75.53 and a 200-day simple moving average of $56.26. The firm has a market capitalization of $88.14 billion, a P/E ratio of 56.56, a price-to-earnings-growth ratio of 5.30 and a beta of 2.36. Robinhood Markets has a 1-year low of $13.98 and a 1-year high of $101.89.

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

Insider Buying and Selling

In related news, CEO Vladimir Tenev sold 750,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $93.27, for a total transaction of $69,952,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Steven M. Quirk sold 104,887 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $70.14, for a total value of $7,356,774.18. Following the transaction, the insider owned 228,621 shares in the company, valued at approximately $16,035,476.94. The trade was a 31.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,587,217 shares of company stock worth $191,037,231. Corporate insiders own 19.95% of the company's stock.

Institutional Trading of Robinhood Markets

A number of institutional investors have recently modified their holdings of HOOD. Proficio Capital Partners LLC purchased a new stake in shares of Robinhood Markets during the fourth quarter worth about $2,367,000. Independent Advisor Alliance purchased a new stake in shares of Robinhood Markets during the fourth quarter worth about $268,000. HighTower Advisors LLC boosted its holdings in shares of Robinhood Markets by 57.6% during the fourth quarter. HighTower Advisors LLC now owns 47,232 shares of the company's stock worth $1,760,000 after purchasing an additional 17,264 shares during the period. Sequoia Financial Advisors LLC purchased a new stake in shares of Robinhood Markets during the fourth quarter worth about $226,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Robinhood Markets by 177.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,407 shares of the company's stock worth $52,000 after purchasing an additional 899 shares during the period. 93.27% of the stock is currently owned by hedge funds and other 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.