Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $64.00 at The Goldman Sachs Group

Robinhood Markets (NASDAQ:HOOD - Get Free Report) had its target price increased by stock analysts at The Goldman Sachs Group from $56.00 to $64.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. The Goldman Sachs Group's target price would suggest a potential upside of 1.92% from the stock's current price.

A number of other brokerages also recently commented on HOOD. Cantor Fitzgerald dropped their target price on shares of Robinhood Markets from $62.00 to $60.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. JMP Securities reiterated a "market outperform" rating and set a $70.00 price objective on shares of Robinhood Markets in a report on Thursday, May 1st. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $60.00 target price on shares of Robinhood Markets in a research note on Thursday, March 27th. Citigroup cut their price objective on Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. Finally, Piper Sandler upped their price objective on shares of Robinhood Markets from $54.00 to $75.00 and gave the company an "overweight" rating in a report on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $55.24.

Robinhood Markets Trading Up 0.4%

Shares of NASDAQ:HOOD traded up $0.23 during trading on Wednesday, reaching $62.80. The company's stock had a trading volume of 15,088,702 shares, compared to its average volume of 40,157,234. The stock has a market capitalization of $55.60 billion, a PE ratio of 39.94, a price-to-earnings-growth ratio of 1.05 and a beta of 2.15. Robinhood Markets has a 12 month low of $13.98 and a 12 month high of $66.91. The firm's 50 day simple moving average is $43.92 and its two-hundred day simple moving average is $42.96.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its 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). The firm had revenue of $927.00 million during the quarter, compared to the consensus estimate of $917.12 million. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. Robinhood Markets's revenue was up 50.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.18 EPS. Research analysts anticipate that Robinhood Markets will post 1.35 EPS for the current fiscal year.

Insider Buying and Selling

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $34.51, for a total transaction of $201,987.03. Following the completion of the transaction, the chief technology officer now owns 5,853 shares of the company's stock, valued at $201,987.03. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Baiju Bhatt sold 522,180 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was 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 of the company's stock, valued at $316,133.40. The trade was a 99.04% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,362,194 shares of company stock valued at $116,234,743. 14.47% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Robinhood Markets

Several institutional investors and hedge funds have recently modified their holdings of the company. Wedmont Private Capital acquired a new position in Robinhood Markets during the 4th quarter worth $386,000. AdvisorNet Financial Inc lifted its holdings in shares of Robinhood Markets by 34.6% in the 4th quarter. AdvisorNet Financial Inc now owns 3,372 shares of the company's stock valued at $126,000 after purchasing an additional 867 shares during the last quarter. SeaCrest Wealth Management LLC acquired a new stake in Robinhood Markets during the 4th quarter worth $254,000. Oak Thistle LLC acquired a new stake in shares of Robinhood Markets during the fourth quarter worth about $797,000. Finally, Assenagon Asset Management S.A. lifted its position in Robinhood Markets by 486.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,788,666 shares of the company's stock worth $103,906,000 after acquiring an additional 2,313,213 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.

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