Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $120.00 at Piper Sandler

Key Points

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Robinhood Markets (NASDAQ:HOOD - Free Report) had its target price lifted by Piper Sandler from $110.00 to $120.00 in a research note issued to investors on Thursday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other equities research analysts have also recently weighed in on HOOD. Morgan Stanley raised their price objective on shares of Robinhood Markets from $43.00 to $110.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Keefe, Bruyette & Woods raised their price target on Robinhood Markets from $89.00 to $106.00 and gave the stock a "market perform" rating in a research report on Thursday. Citigroup raised their price target on Robinhood Markets from $50.00 to $100.00 and gave the stock a "neutral" rating in a research report on Monday, July 7th. Compass Point upped their price objective on Robinhood Markets from $64.00 to $96.00 and gave the stock a "buy" rating in a research report on Friday, June 27th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Robinhood Markets from $70.00 to $85.00 and gave the company a "buy" rating in a research report on Monday, June 9th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $96.29.

Robinhood Markets Stock Down 2.2%

Shares of HOOD stock traded down $2.25 during trading hours on Thursday, reaching $100.80. 32,058,521 shares of the company's stock were exchanged, compared to its average volume of 41,611,711. The business has a fifty day moving average price of $86.18 and a 200-day moving average price of $61.49. The stock has a market capitalization of $89.25 billion, a P/E ratio of 51.16, a P/E/G ratio of 5.40 and a beta of 2.36. Robinhood Markets has a fifty-two week low of $13.98 and a fifty-two week high of $113.44.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.12. The firm had revenue of $989.00 million during the quarter, compared to analyst estimates of $893.93 million. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.69%. The company's quarterly revenue was up 45.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.21 earnings per share. As a group, research analysts expect that Robinhood Markets will post 1.35 EPS for the current fiscal year.

Insiders Place Their Bets

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the business's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $104.73, for a total transaction of $614,136.72. Following the completion of the transaction, the chief technology officer owned 3,044 shares of the company's stock, valued at approximately $318,798.12. The trade was a 65.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the business's stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $93.88, for a total value of $2,347,000.00. Following the transaction, the insider directly owned 816,887 shares of the company's stock, valued at approximately $76,689,351.56. The trade was a 2.97% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,026,690 shares of company stock worth $257,160,102. 14.47% of the stock is currently owned by insiders.

Institutional Trading of Robinhood Markets

A number of hedge funds have recently made changes to their positions in the company. V Square Quantitative Management LLC acquired a new stake in shares of Robinhood Markets in the second quarter valued at about $36,000. LGT Financial Advisors LLC acquired a new stake in shares of Robinhood Markets in the 2nd quarter valued at about $37,000. REAP Financial Group LLC grew its stake in shares of Robinhood Markets by 44.1% in the 2nd quarter. REAP Financial Group LLC now owns 523 shares of the company's stock valued at $49,000 after buying an additional 160 shares during the period. Ameritas Advisory Services LLC bought a new position in Robinhood Markets in the 2nd quarter valued at about $56,000. Finally, Whipplewood Advisors LLC lifted 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 acquiring an additional 508 shares in the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

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.