Brokerages Set Robinhood Markets, Inc. (NASDAQ:HOOD) Price Target at $61.29

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) has been assigned an average rating of "Moderate Buy" from the eighteen ratings firms that are currently covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $61.29.

A number of research firms have recently weighed in on HOOD. Compass Point assumed coverage on Robinhood Markets in a research note on Wednesday, March 19th. They issued a "buy" rating and a $61.00 price objective for the company. JPMorgan Chase & Co. lifted their price objective on shares of Robinhood Markets from $39.00 to $45.00 and gave the company a "neutral" rating in a research report on Thursday, February 13th. The Goldman Sachs Group raised shares of Robinhood Markets from a "neutral" rating to a "buy" rating and raised their target price for the company from $40.00 to $46.00 in a research note on Friday, December 6th. Raymond James initiated coverage on shares of Robinhood Markets in a research note on Wednesday, February 5th. They issued a "market perform" rating on the stock. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Robinhood Markets from $75.00 to $61.00 and set a "buy" rating for the company in a research report on Wednesday, March 12th.

Robinhood Markets Trading Up 9.0 %

NASDAQ HOOD traded up $4.00 on Friday, reaching $48.36. 50,563,276 shares of the stock were exchanged, compared to its average volume of 21,212,884. Robinhood Markets has a one year low of $13.98 and a one year high of $66.91. The firm has a market capitalization of $42.82 billion, a PE ratio of 30.80, a PEG ratio of 1.05 and a beta of 2.14. The company's 50-day simple moving average is $49.22 and its two-hundred day simple moving average is $37.61.

Remove Ads

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.41 by $0.13. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. Sell-side analysts forecast that Robinhood Markets will post 1.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other 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 transaction of $29,370,000.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $46.81, for a total value of $273,978.93. Following the completion of the sale, the chief technology officer now owns 17,559 shares of the company's stock, valued at $821,936.79. The trade was a 25.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,685,104 shares of company stock valued at $131,233,346 over the last 90 days. Insiders own 19.95% of the company's stock.

Institutional Investors Weigh In On Robinhood Markets

A number of institutional investors and hedge funds have recently bought and sold shares of the company. New Wave Wealth Advisors LLC purchased a new stake in Robinhood Markets in the fourth quarter worth about $26,000. True Wealth Design LLC purchased a new stake in shares of Robinhood Markets in the 3rd quarter worth approximately $30,000. CoreCap Advisors LLC increased its holdings in Robinhood Markets by 191.6% during the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock valued at $31,000 after buying an additional 550 shares during the period. Creative Financial Designs Inc. ADV raised its stake in Robinhood Markets by 750.0% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company's stock worth $32,000 after buying an additional 750 shares in the last quarter. Finally, Colonial Trust Co SC purchased a new stake in Robinhood Markets during the fourth quarter worth $34,000. 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.