Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $30.00

Robinhood Markets (NASDAQ:HOOD) had its price objective lifted by research analysts at JMP Securities from $28.00 to $30.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a “market outperform” rating on the stock. JMP Securities’ target price points to a potential upside of 73.41% from the stock’s current price.

Several other brokerages also recently issued reports on HOOD. Keefe, Bruyette & Woods started coverage on shares of Robinhood Markets in a research report on Wednesday, April 3rd. They set a “market perform” rating and a $20.00 price objective on the stock. Needham & Company LLC reissued a “hold” rating on shares of Robinhood Markets in a report on Monday. Deutsche Bank Aktiengesellschaft increased their price objective on Robinhood Markets from $12.00 to $16.00 and gave the stock a “hold” rating in a research report on Tuesday, March 19th. Piper Sandler boosted their target price on Robinhood Markets from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday. Finally, Citigroup downgraded Robinhood Markets from a “neutral” rating to a “sell” rating and increased their price target for the stock from $13.00 to $16.00 in a report on Thursday, April 11th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $19.35.

Robinhood Markets Trading Down 3.1 %

NASDAQ:HOOD traded down $0.55 during midday trading on Thursday, hitting $17.30. 50,951,383 shares of the company were exchanged, compared to its average volume of 14,505,332. Robinhood Markets has a fifty-two week low of $7.91 and a fifty-two week high of $20.55. The company has a market capitalization of $15.13 billion, a PE ratio of -28.97 and a beta of 1.74. The company has a fifty day simple moving average of $17.82 and a 200 day simple moving average of $13.40.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, May 8th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.13. The firm had revenue of $618.00 million during the quarter, compared to analysts’ expectations of $552.74 million. Robinhood Markets had a negative return on equity of 7.87% and a negative net margin of 29.01%. The business’s revenue was up 40.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.57) EPS. As a group, equities research analysts expect that Robinhood Markets will post 0.29 EPS for the current year.

Insider Buying and Selling

In other Robinhood Markets news, CEO Vladimir Tenev sold 500,000 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $15.12, for a total transaction of $7,560,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Vladimir Tenev sold 500,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $15.12, for a total transaction of $7,560,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Jason Warnick sold 5,000 shares of Robinhood Markets stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $12.00, for a total transaction of $60,000.00. Following the completion of the sale, the chief financial officer now directly owns 916,267 shares of the company’s stock, valued at $10,995,204. The disclosure for this sale can be found here. Insiders have sold 2,413,026 shares of company stock worth $38,927,267 in the last three months. Corporate insiders own 20.81% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

Hedge funds have recently made changes to their positions in the stock. Spire Wealth Management purchased a new position in shares of Robinhood Markets in the 4th quarter worth $26,000. Peoples Bank KS purchased a new position in shares of Robinhood Markets in the 3rd quarter worth about $29,000. PNC Financial Services Group Inc. lifted its stake in shares of Robinhood Markets by 46.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock valued at $29,000 after purchasing an additional 722 shares in the last quarter. UniSuper Management Pty Ltd purchased a new stake in shares of Robinhood Markets during the 3rd quarter worth about $30,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Robinhood Markets during the 1st quarter worth approximately $34,000. Institutional investors and hedge funds 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.