Robinhood Markets (NASDAQ:HOOD) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Robinhood Markets (NASDAQ:HOOD) had its target price lifted by stock analysts at Keefe, Bruyette & Woods from $121.00 to $135.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price target indicates a potential downside of 5.25% from the company’s current price.

HOOD has been the topic of a number of other reports. Piper Sandler restated an “overweight” rating and issued a $140.00 price target (up from $120.00) on shares of Robinhood Markets in a research report on Tuesday, September 23rd. CICC Research initiated coverage on shares of Robinhood Markets in a report on Monday, October 27th. They issued an “outperform” rating and a $155.00 price objective on the stock. Bank of America increased their price objective on shares of Robinhood Markets from $139.00 to $157.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. JMP Securities increased their price objective on shares of Robinhood Markets from $130.00 to $170.00 and gave the stock a “market outperform” rating in a report on Thursday, October 9th. Finally, Compass Point reaffirmed a “buy” rating on shares of Robinhood Markets in a report on Monday, October 27th. Thirteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $127.90.

Robinhood Markets Stock Performance

Robinhood Markets stock opened at $142.48 on Thursday. The firm’s 50-day moving average is $129.11 and its 200-day moving average is $98.72. Robinhood Markets has a 1 year low of $26.74 and a 1 year high of $153.86. The company has a market cap of $126.62 billion, a P/E ratio of 72.33, a PEG ratio of 3.55 and a beta of 2.42.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.20. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same period last year, the firm posted $0.17 EPS. The company’s revenue for the quarter was up 100.0% on a year-over-year basis. As a group, sell-side analysts predict that Robinhood Markets will post 1.35 earnings per share for the current year.

Insider Activity

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $139.73, for a total transaction of $104,797,500.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Steven M. Quirk sold 60,113 shares of the firm’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $100.91, for a total transaction of $6,066,002.83. Following the transaction, the insider directly owned 94,454 shares in the company, valued at approximately $9,531,353.14. The trade was a 38.89% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 3,337,392 shares of company stock worth $397,124,959 in the last 90 days. 14.47% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Robinhood Markets

Large investors have recently bought and sold shares of the stock. Valley National Advisers Inc. increased its stake in Robinhood Markets by 113.6% during the 3rd quarter. Valley National Advisers Inc. now owns 188 shares of the company’s stock valued at $26,000 after buying an additional 100 shares during the period. Golden State Wealth Management LLC grew its stake in shares of Robinhood Markets by 107.6% in the 3rd quarter. Golden State Wealth Management LLC now owns 191 shares of the company’s stock worth $27,000 after purchasing an additional 99 shares during the last quarter. Stonehage Fleming Financial Services Holdings Ltd acquired a new position in shares of Robinhood Markets in the 3rd quarter worth approximately $29,000. Guerra Advisors Inc acquired a new position in shares of Robinhood Markets in the 3rd quarter worth approximately $30,000. Finally, Chung Wu Investment Group LLC acquired a new position in shares of Robinhood Markets in the 3rd quarter worth approximately $34,000. Institutional investors and hedge funds 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.