Keefe, Bruyette & Woods Raises Robinhood Markets (NASDAQ:HOOD) Price Target to $38.00

Robinhood Markets (NASDAQ:HOOD - Get Free Report) had its price objective hoisted by equities researchers at Keefe, Bruyette & Woods from $24.00 to $38.00 in a research note issued on Friday,Benzinga reports. The firm presently has a "market perform" rating on the stock. Keefe, Bruyette & Woods' price objective indicates a potential downside of 0.86% from the company's previous close.

A number of other equities analysts also recently commented on HOOD. Morgan Stanley raised shares of Robinhood Markets from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $24.00 to $55.00 in a research note on Monday, November 25th. The Goldman Sachs Group upgraded Robinhood Markets from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $40.00 to $46.00 in a research note on Friday, December 6th. Deutsche Bank Aktiengesellschaft lifted their target price on Robinhood Markets from $36.00 to $42.00 and gave the company a "buy" rating in a research note on Thursday, December 5th. Needham & Company LLC reiterated a "buy" rating and issued a $52.00 target price (up from $40.00) on shares of Robinhood Markets in a report on Monday, December 9th. Finally, Sanford C. Bernstein raised their price target 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. One analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, Robinhood Markets has a consensus rating of "Moderate Buy" and an average price target of $39.20.

Robinhood Markets Stock Up 3.8 %

Shares of HOOD stock traded up $1.39 on Friday, hitting $38.33. The stock had a trading volume of 28,983,416 shares, compared to its average volume of 17,098,652. Robinhood Markets has a one year low of $10.38 and a one year high of $43.83. The business has a 50 day moving average price of $33.11 and a 200 day moving average price of $25.62. The company has a market cap of $33.88 billion, a PE ratio of 64.97, a P/E/G ratio of 0.76 and a beta of 2.09.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its 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 net margin of 21.80% and a return on equity of 7.52%. The business had revenue of $637.00 million for the quarter, compared to analysts' expectations of $660.53 million. During the same period last year, the business posted ($0.09) EPS. The company's revenue for the quarter was up 36.4% on a year-over-year basis. Equities research analysts expect that Robinhood Markets will post 0.8 EPS for the current year.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, Director Baiju Bhatt sold 98,404 shares of Robinhood Markets stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $26.40, for a total transaction of $2,597,865.60. Following the completion of the sale, the director now directly owns 2,521 shares in the company, valued at approximately $66,554.40. The trade was a 97.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Meyer Malka sold 1,535,681 shares of the company's stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $40.11, for a total transaction of $61,596,164.91. Following the completion of the sale, the director now directly owns 4,974,238 shares in the company, valued at $199,516,686.18. This trade represents a 23.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,037,689 shares of company stock valued at $177,092,487 in the last ninety days. Company insiders own 19.95% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in HOOD. HM Payson & Co. grew its stake in shares of Robinhood Markets by 53.5% during the 3rd 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 period. Eastern Bank purchased a new position in Robinhood Markets in the third quarter valued at $30,000. True Wealth Design LLC acquired a new position in shares of Robinhood Markets in the third quarter worth about $30,000. ORG Wealth Partners LLC purchased a new stake in shares of Robinhood Markets during the 3rd quarter worth about $33,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of Robinhood Markets during the 2nd quarter valued at about $40,000. Hedge funds and other institutional investors 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.