Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $36.00 at Piper Sandler

Robinhood Markets (NASDAQ:HOOD - Get Free Report) had its target price upped by stock analysts at Piper Sandler from $30.00 to $36.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Piper Sandler's price target points to a potential upside of 2.86% from the company's current price.

A number of other equities analysts also recently issued reports on HOOD. Keefe, Bruyette & Woods dropped their price target on Robinhood Markets from $23.00 to $22.00 and set a "market perform" rating on the stock in a research note on Thursday, August 8th. Citigroup raised their target price on Robinhood Markets from $19.00 to $23.00 and gave the stock a "neutral" rating in a research report on Friday, September 27th. Morgan Stanley upped their price target on shares of Robinhood Markets from $22.00 to $24.00 and gave the company an "equal weight" rating in a research report on Monday, November 11th. JPMorgan Chase & Co. boosted their target price on shares of Robinhood Markets from $17.00 to $21.00 and gave the company an "underweight" rating in a research report on Thursday, October 17th. Finally, Barclays upped their target price on shares of Robinhood Markets from $23.00 to $26.00 and gave the company an "equal weight" rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $27.34.

Robinhood Markets Price Performance

Shares of Robinhood Markets stock traded up $2.68 during trading on Monday, hitting $35.00. 36,906,478 shares of the company's stock traded hands, compared to its average volume of 16,082,386. Robinhood Markets has a 1 year low of $7.96 and a 1 year high of $35.62. The business has a 50-day simple moving average of $25.77 and a 200-day simple moving average of $22.49. The stock has a market capitalization of $30.94 billion, a P/E ratio of 59.32, a PEG ratio of 0.77 and a beta of 1.84.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.01). Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The company had revenue of $637.00 million during the quarter, compared to the consensus estimate of $660.53 million. During the same quarter in the prior year, the firm earned ($0.09) earnings per share. The business's revenue was up 36.4% compared to the same quarter last year. On average, equities analysts predict that Robinhood Markets will post 0.72 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Vladimir Tenev sold 250,000 shares of the business's stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $19.26, for a total value of $4,815,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Meyer Malka sold 3,225,806 shares of the company's stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $25.07, for a total transaction of $80,870,956.42. Following the sale, the director now owns 29,357,336 shares in the company, valued at $735,988,413.52. This represents a 9.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,710,549 shares of company stock worth $115,477,194. 19.95% of the stock is owned by insiders.

Hedge Funds Weigh In On Robinhood Markets

A number of large investors have recently made changes to their positions in the company. HM Payson & Co. lifted its stake in Robinhood Markets by 53.5% in 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 during the last quarter. Eastern Bank purchased a new stake in shares of Robinhood Markets in the third quarter worth approximately $30,000. True Wealth Design LLC bought a new stake in shares of Robinhood Markets during the 3rd quarter worth approximately $30,000. ORG Partners LLC purchased a new position in Robinhood Markets during the 2nd quarter valued at $33,000. Finally, ORG Wealth Partners LLC purchased a new position in Robinhood Markets during the 3rd quarter valued at $33,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

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.