Robinhood Markets (NASDAQ:HOOD) Upgraded to “Overweight” at Piper Sandler

Piper Sandler upgraded shares of Robinhood Markets (NASDAQ:HOOD) from a neutral rating to an overweight rating in a research report report published on Monday morning, MarketBeat Ratings reports. The brokerage currently has $23.00 price objective on the stock, up from their previous price objective of $20.00.

Several other brokerages have also commented on HOOD. Needham & Company LLC restated a hold rating on shares of Robinhood Markets in a research report on Thursday, August 8th. Barclays increased their price target on Robinhood Markets from $18.00 to $20.00 and gave the stock an underweight rating in a report on Wednesday, July 10th. Citigroup upgraded Robinhood Markets from a sell rating to a neutral rating and set a $18.00 price target on the stock in a report on Monday, August 5th. KeyCorp increased their price objective on Robinhood Markets from $23.00 to $25.00 and gave the stock an overweight rating in a research note on Friday, July 19th. Finally, Mizuho increased their price objective on Robinhood Markets from $20.00 to $21.00 and gave the stock a buy rating in a research note on Monday, May 6th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Robinhood Markets has a consensus rating of Hold and an average target price of $22.70.

Robinhood Markets Trading Up 4.8 %

NASDAQ HOOD opened at $19.55 on Monday. The business’s 50-day moving average price is $21.51 and its two-hundred day moving average price is $18.59. Robinhood Markets has a 12 month low of $7.91 and a 12 month high of $24.88. The firm has a market capitalization of $17.18 billion, a PE ratio of 130.33 and a beta of 1.83.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.05. Robinhood Markets had a return on equity of 1.86% and a net margin of 6.22%. The firm had revenue of $682.00 million for the quarter, compared to analyst estimates of $640.39 million. During the same quarter in the previous year, the company posted $0.03 EPS. The business’s revenue was up 40.3% on a year-over-year basis. As a group, analysts forecast that Robinhood Markets will post 0.57 earnings per share for the current fiscal year.

Insider Activity at Robinhood Markets

In related news, Director Baiju Bhatt sold 116,669 shares of the stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $22.02, for a total transaction of $2,569,051.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $16.05, for a total transaction of $4,012,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Baiju Bhatt sold 116,669 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $22.02, for a total value of $2,569,051.38. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,231,246 shares of company stock valued at $25,375,917. 19.95% of the stock is owned by insiders.

Hedge Funds Weigh In On Robinhood Markets

Large investors have recently made changes to their positions in the stock. ORG Partners LLC bought a new stake in Robinhood Markets during the second quarter valued at $33,000. Allspring Global Investments Holdings LLC bought a new stake in Robinhood Markets during the first quarter valued at $34,000. International Assets Investment Management LLC bought a new stake in Robinhood Markets during the second quarter valued at $40,000. Opal Wealth Advisors LLC bought a new stake in Robinhood Markets during the second quarter valued at $45,000. Finally, Spire Wealth Management bought a new stake in Robinhood Markets during the fourth quarter valued at $26,000. 93.27% of the stock is owned by institutional investors.

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.