Robinhood Markets (NASDAQ:HOOD) Stock Price Expected to Rise, Piper Sandler Analyst Says

Robinhood Markets (NASDAQ:HOOD) had its target price hoisted by stock analysts at Piper Sandler from $54.00 to $75.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price target points to a potential upside of 14.89% from the company’s previous close.

A number of other equities research analysts have also issued reports on the stock. Citigroup upped their price objective on shares of Robinhood Markets from $25.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, January 10th. Sanford C. Bernstein upped their price objective on shares of Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Raymond James initiated coverage on shares of Robinhood Markets in a research note on Wednesday, February 5th. They set a “market perform” rating for the company. JMP Securities increased their target price on shares of Robinhood Markets from $60.00 to $77.00 and gave the stock a “market outperform” rating in a research note on Thursday. Finally, KeyCorp increased their target price on shares of Robinhood Markets from $57.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Robinhood Markets presently has a consensus rating of “Moderate Buy” and a consensus price target of $58.07.

Robinhood Markets Stock Up 2.3 %

Robinhood Markets stock opened at $65.28 on Thursday. Robinhood Markets has a 52-week low of $13.04 and a 52-week high of $66.91. The firm has a market capitalization of $57.71 billion, a price-to-earnings ratio of 110.65, a PEG ratio of 0.73 and a beta of 2.13. The company has a fifty day simple moving average of $45.45 and a 200-day simple moving average of $32.43.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. On average, research analysts anticipate that Robinhood Markets will post 0.97 EPS for the current fiscal year.

Insider Activity at Robinhood Markets

In related news, CEO Vladimir Tenev sold 750,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $39.16, for a total value of $29,370,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Steven M. Quirk sold 19,861 shares of the firm’s stock in a transaction that occurred on Sunday, December 1st. The shares were sold at an average price of $37.54, for a total transaction of $745,581.94. Following the completion of the sale, the insider now directly owns 395,166 shares in the company, valued at approximately $14,834,531.64. This trade represents a 4.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,948,427 shares of company stock valued at $165,005,244 over the last 90 days. 19.95% of the stock is owned by corporate insiders.

Institutional Trading of Robinhood Markets

Several hedge funds have recently added to or reduced their stakes in the company. New Wave Wealth Advisors LLC acquired a new stake in Robinhood Markets during the fourth quarter worth approximately $26,000. HM Payson & Co. raised its holdings in Robinhood Markets by 53.5% during the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock worth $28,000 after purchasing an additional 410 shares in the last quarter. Eastern Bank acquired a new stake in Robinhood Markets during the third quarter worth approximately $30,000. True Wealth Design LLC acquired a new stake in Robinhood Markets during the third quarter worth approximately $30,000. Finally, Creative Financial Designs Inc. ADV raised its holdings in Robinhood Markets by 750.0% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock worth $32,000 after purchasing an additional 750 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

About Robinhood Markets

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.