Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $91.00 at The Goldman Sachs Group

Robinhood Markets (NASDAQ:HOOD - Get Free Report) had its price objective increased by The Goldman Sachs Group from $82.00 to $91.00 in a report released on Friday,Benzinga reports. The firm presently has a "buy" rating on the stock. The Goldman Sachs Group's price objective indicates a potential upside of 8.73% from the company's previous close.

HOOD has been the subject of several other reports. Needham & Company LLC restated a "buy" rating and set a $71.00 price objective on shares of Robinhood Markets in a research report on Tuesday, May 27th. Barclays dropped their price objective on Robinhood Markets from $76.00 to $45.00 and set an "overweight" rating for the company in a research report on Monday, April 7th. Cantor Fitzgerald reduced their price objective on Robinhood Markets from $62.00 to $60.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $60.00 target price on shares of Robinhood Markets in a research note on Thursday, March 27th. Finally, Mizuho raised their price target on shares of Robinhood Markets from $65.00 to $80.00 and gave the company an "outperform" rating in a research note on Tuesday, June 17th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Robinhood Markets has an average rating of "Moderate Buy" and an average target price of $62.29.

Robinhood Markets Trading Down 1.0%

NASDAQ HOOD traded down $0.83 during trading on Friday, reaching $83.69. The company's stock had a trading volume of 18,343,025 shares, compared to its average volume of 27,886,155. The firm has a 50 day moving average price of $63.01 and a 200 day moving average price of $51.16. Robinhood Markets has a 12 month low of $13.98 and a 12 month high of $85.55. The firm has a market capitalization of $74.11 billion, a price-to-earnings ratio of 47.61, a price-to-earnings-growth ratio of 4.88 and a beta of 2.25.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its quarterly 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). Robinhood Markets had a net margin of 48.77% and a return on equity of 15.42%. The company had revenue of $927.00 million during the quarter, compared to the consensus estimate of $917.12 million. During the same quarter last year, the firm posted $0.18 earnings per share. The company's quarterly revenue was up 50.0% on a year-over-year basis. On average, equities analysts forecast that Robinhood Markets will post 1.35 EPS for the current fiscal year.

Insider Activity

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $41.96, for a total value of $31,470,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the business's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $34.51, for a total transaction of $201,987.03. Following the sale, the chief technology officer now directly owns 5,853 shares of the company's stock, valued at approximately $201,987.03. The trade was a 50.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,380,434 shares of company stock worth $131,340,572 in the last quarter. 14.47% of the stock is owned by corporate insiders.

Institutional Trading of Robinhood Markets

Several institutional investors and hedge funds have recently modified their holdings of HOOD. Whipplewood Advisors LLC raised its position in Robinhood Markets by 564.4% in the 1st quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock valued at $25,000 after buying an additional 508 shares during the last quarter. Hemington Wealth Management grew its stake in shares of Robinhood Markets by 52.2% in the 1st quarter. Hemington Wealth Management now owns 636 shares of the company's stock worth $26,000 after acquiring an additional 218 shares in the last quarter. Wayfinding Financial LLC purchased a new stake in Robinhood Markets in the 1st quarter valued at about $30,000. Pandora Wealth Inc. purchased a new stake in Robinhood Markets in the 1st quarter valued at about $33,000. Finally, CoreCap Advisors LLC lifted its position in shares of Robinhood Markets by 191.6% during the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock worth $31,000 after buying an additional 550 shares in the last quarter. 93.27% of the stock is 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.

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