KeyCorp Boosts Robinhood Markets (NASDAQ:HOOD) Price Target to $23.00

Robinhood Markets (NASDAQ:HOOD) had its target price hoisted by KeyCorp from $22.00 to $23.00 in a report published on Monday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

HOOD has been the topic of a number of other reports. Keefe, Bruyette & Woods initiated coverage on Robinhood Markets in a report on Wednesday, April 3rd. They issued a market perform rating and a $20.00 target price on the stock. Deutsche Bank Aktiengesellschaft raised their target price on Robinhood Markets from $12.00 to $16.00 and gave the stock a hold rating in a report on Tuesday, March 19th. The Goldman Sachs Group raised their target price on Robinhood Markets from $18.00 to $20.00 and gave the stock a neutral rating in a report on Monday, April 15th. Morgan Stanley raised their price target on Robinhood Markets from $11.00 to $18.00 and gave the company an equal weight rating in a report on Tuesday, April 9th. Finally, Barclays raised their price target on Robinhood Markets from $11.00 to $16.00 and gave the company an underweight rating in a report on Monday, April 8th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $18.88.

Robinhood Markets Price Performance

NASDAQ HOOD opened at $17.31 on Monday. The business’s fifty day moving average price is $17.23 and its 200-day moving average price is $12.84. The stock has a market capitalization of $15.14 billion, a price-to-earnings ratio of -28.85 and a beta of 1.69. Robinhood Markets has a 1-year low of $7.91 and a 1-year high of $20.55.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Tuesday, February 13th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.04. Robinhood Markets had a negative return on equity of 7.87% and a negative net margin of 29.01%. The firm had revenue of $471.00 million for the quarter, compared to analysts’ expectations of $454.73 million. During the same period in the prior year, the firm earned ($0.19) EPS. The company’s revenue was up 23.9% compared to the same quarter last year. Equities research analysts anticipate that Robinhood Markets will post 0.29 EPS for the current year.

Insider Activity

In related news, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $10.61, for a total value of $2,652,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Baiju Bhatt sold 482,667 shares of Robinhood Markets stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $15.10, for a total value of $7,288,271.70. Following the completion of the transaction, the insider now owns 36,045 shares in the company, valued at $544,279.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $10.61, for a total value of $2,652,500.00. The disclosure for this sale can be found here. Insiders sold a total of 2,228,817 shares of company stock worth $33,781,825 over the last 90 days. Corporate insiders own 20.81% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Robinhood Markets by 4.5% in the third quarter. Vanguard Group Inc. now owns 57,261,184 shares of the company’s stock worth $561,732,000 after purchasing an additional 2,459,702 shares during the last quarter. ARK Investment Management LLC lifted its stake in Robinhood Markets by 6.4% in the fourth quarter. ARK Investment Management LLC now owns 34,936,204 shares of the company’s stock worth $445,087,000 after purchasing an additional 2,101,325 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Robinhood Markets by 9.4% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 29,205,693 shares of the company’s stock worth $372,081,000 after purchasing an additional 2,517,012 shares during the last quarter. Nikko Asset Management Americas Inc. lifted its stake in Robinhood Markets by 9.6% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 28,297,822 shares of the company’s stock worth $360,514,000 after purchasing an additional 2,486,986 shares during the last quarter. Finally, Norges Bank bought a new stake in Robinhood Markets in the fourth quarter worth about $84,165,000. 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.