Robinhood Markets (NASDAQ:HOOD) Upgraded at Bank of America

Bank of America upgraded shares of Robinhood Markets (NASDAQ:HOODFree Report) from an underperform rating to a buy rating in a report issued on Friday morning, Marketbeat Ratings reports. The firm currently has $24.00 target price on the stock, up from their prior target price of $14.00.

A number of other equities research analysts have also recently weighed in on the company. Morgan Stanley raised their price target on Robinhood Markets from $18.00 to $19.00 and gave the company an equal weight rating in a report on Friday, May 10th. TheStreet upgraded shares of Robinhood Markets from a d+ rating to a c- rating in a research report on Wednesday, February 28th. Keefe, Bruyette & Woods initiated coverage on shares of Robinhood Markets in a research note on Wednesday, April 3rd. They issued a market perform rating and a $20.00 target price for the company. Citigroup cut shares of Robinhood Markets from a neutral rating to a sell rating and increased their price target for the company from $13.00 to $16.00 in a research note on Thursday, April 11th. Finally, JPMorgan Chase & Co. upped their price objective on Robinhood Markets from $10.00 to $12.00 and gave the stock an underweight rating in a report on Wednesday, February 14th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $19.75.

Check Out Our Latest Research Report on HOOD

Robinhood Markets Stock Performance

Shares of NASDAQ:HOOD opened at $20.84 on Friday. The company’s fifty day moving average is $18.09 and its 200-day moving average is $13.94. Robinhood Markets has a 52 week low of $7.91 and a 52 week high of $20.89. The company has a market capitalization of $18.32 billion, a PE ratio of 138.93 and a beta of 1.74.

Robinhood Markets (NASDAQ:HOODGet Free Report) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.13. The firm had revenue of $618.00 million for the quarter, compared to analyst estimates of $552.74 million. Robinhood Markets had a net margin of 6.22% and a return on equity of 1.86%. The company’s revenue for the quarter was up 40.1% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.57) earnings per share. On average, analysts forecast that Robinhood Markets will post 0.53 EPS for the current year.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 500,000 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $15.12, for a total value of $7,560,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Baiju Bhatt sold 16,667 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $18.27, for a total value of $304,506.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Vladimir Tenev sold 500,000 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $15.12, for a total value of $7,560,000.00. The disclosure for this sale can be found here. Insiders sold a total of 2,577,873 shares of company stock worth $41,719,157 in the last quarter. Corporate insiders own 19.95% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

A number of hedge funds and other institutional investors have recently bought and sold shares of HOOD. Spire Wealth Management bought a new position in shares of Robinhood Markets during the 4th quarter worth approximately $26,000. PNC Financial Services Group Inc. increased its stake in 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 buying an additional 722 shares during the last quarter. UniSuper Management Pty Ltd bought a new stake in Robinhood Markets during the 3rd quarter worth about $30,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Robinhood Markets during the 1st quarter worth about $34,000. Finally, Whittier Trust Co. grew its holdings in shares of Robinhood Markets by 100.0% in the 4th quarter. Whittier Trust Co. now owns 4,634 shares of the company’s stock valued at $59,000 after acquiring an additional 2,317 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

Robinhood Markets Company Profile

(Get Free Report)

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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