Piper Sandler Raises Robinhood Markets (NASDAQ:HOOD) Price Target to $18.00

Robinhood Markets (NASDAQ:HOOD) had its target price raised by Piper Sandler from $17.00 to $18.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Piper Sandler’s price objective would indicate a potential upside of 0.84% from the company’s current price.

Other equities research analysts also recently issued reports about the company. Sanford C. Bernstein started coverage on Robinhood Markets in a research report on Thursday, March 14th. They set an “outperform” rating and a $30.00 price target on the stock. The Goldman Sachs Group upped their price objective on Robinhood Markets from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Monday, April 15th. JPMorgan Chase & Co. lifted their target price on shares of Robinhood Markets from $10.00 to $12.00 and gave the company an “underweight” rating in a report on Wednesday, February 14th. Citigroup lowered shares of Robinhood Markets from a “neutral” rating to a “sell” rating and raised their price target for the company from $13.00 to $16.00 in a research report on Thursday, April 11th. Finally, KeyCorp upped their price objective on shares of Robinhood Markets from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. 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’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $19.04.

Robinhood Markets Price Performance

NASDAQ HOOD opened at $17.85 on Thursday. The stock’s fifty day moving average price is $17.82 and its 200 day moving average price is $13.40. Robinhood Markets has a 1 year low of $7.91 and a 1 year high of $20.55. The company has a market cap of $15.61 billion, a price-to-earnings ratio of -29.75 and a beta of 1.74.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Tuesday, February 13th. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $454.73 million. During the same quarter in the previous year, the company posted ($0.19) earnings per share. The company’s revenue was up 23.9% compared to the same quarter last year. Research analysts expect that Robinhood Markets will post 0.29 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Jason Warnick sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $19.59, for a total value of $97,950.00. Following the completion of the sale, the chief financial officer now directly owns 1,002,407 shares in the company, valued at $19,637,153.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Steven M. Quirk sold 60,895 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $14.43, for a total transaction of $878,714.85. Following the completion of the sale, the insider now owns 350,769 shares in the company, valued at approximately $5,061,596.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jason Warnick sold 5,000 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $19.59, for a total value of $97,950.00. Following the sale, the chief financial officer now directly owns 1,002,407 shares of the company’s stock, valued at approximately $19,637,153.13. The disclosure for this sale can be found here. Insiders have sold 2,413,026 shares of company stock valued at $38,927,267 in the last ninety days. 20.81% of the stock is currently owned by corporate insiders.

Institutional Trading of Robinhood Markets

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Robinhood Markets by 33.9% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 244,627 shares of the company’s stock valued at $4,924,000 after buying an additional 61,933 shares in the last quarter. Angeles Wealth Management LLC grew its position in Robinhood Markets by 5.3% in the 1st quarter. Angeles Wealth Management LLC now owns 12,207 shares of the company’s stock valued at $246,000 after acquiring an additional 610 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in Robinhood Markets by 25.9% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 35,347 shares of the company’s stock worth $712,000 after purchasing an additional 7,271 shares during the period. Entropy Technologies LP lifted its position in shares of Robinhood Markets by 87.2% during the first quarter. Entropy Technologies LP now owns 151,924 shares of the company’s stock worth $3,058,000 after purchasing an additional 70,771 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. purchased a new position in shares of Robinhood Markets in the first quarter valued at approximately $1,610,000. 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.