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

Robinhood Markets (NASDAQ:HOOD - Get Free Report) had its price objective boosted by KeyCorp from $50.00 to $57.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. KeyCorp's price objective points to a potential upside of 7.55% from the stock's current price.

A number of other research analysts have also weighed in on HOOD. Barclays boosted their target price on shares of Robinhood Markets from $49.00 to $54.00 and gave the stock an "overweight" rating in a research report on Monday, January 13th. Sanford C. Bernstein boosted their price objective on Robinhood Markets from $30.00 to $51.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 20th. Keefe, Bruyette & Woods raised their target price on Robinhood Markets from $24.00 to $38.00 and gave the company a "market perform" rating in a report on Friday, December 20th. Piper Sandler lifted their price target on Robinhood Markets from $36.00 to $42.00 and gave the stock an "overweight" rating in a research report on Monday, December 2nd. Finally, Citigroup increased their price objective on Robinhood Markets from $25.00 to $45.00 and gave the company a "neutral" rating in a research report on Friday, January 10th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $43.73.

Robinhood Markets Price Performance

Shares of HOOD stock traded up $1.85 during trading on Thursday, reaching $53.00. The company had a trading volume of 16,760,290 shares, compared to its average volume of 21,465,643. The firm's 50 day simple moving average is $41.22 and its two-hundred day simple moving average is $29.74. Robinhood Markets has a one year low of $10.51 and a one year high of $53.51. The company has a market capitalization of $46.85 billion, a PE ratio of 89.83, a PEG ratio of 0.67 and a beta of 2.07.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released 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). The firm had revenue of $637.00 million during the quarter, compared to the consensus estimate of $660.53 million. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The company's revenue for the quarter was up 36.4% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.09) EPS. Analysts forecast that Robinhood Markets will post 0.97 earnings per share for the current year.

Insider Activity

In other news, CTO Jeffrey Tsvi Pinner sold 5,876 shares of Robinhood Markets stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $37.92, for a total value of $222,817.92. Following the completion of the transaction, the chief technology officer now owns 11,752 shares in the company, valued at approximately $445,635.84. The trade was a 33.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Meyer Malka sold 1,535,681 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $40.11, for a total value of $61,596,164.91. Following the sale, the director now owns 4,974,238 shares in the company, valued at approximately $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. In the last ninety days, insiders have sold 4,297,400 shares of company stock worth $170,630,852. Company insiders own 19.95% of the company's stock.

Hedge Funds Weigh In On Robinhood Markets

A number of institutional investors and hedge funds have recently bought and sold shares of the business. New Wave Wealth Advisors LLC acquired a new stake in shares of Robinhood Markets in the fourth quarter valued at approximately $26,000. Silicon Valley Capital Partners acquired a new stake in shares of Robinhood Markets in the 4th quarter valued at $37,000. Bogart Wealth LLC acquired a new stake in shares of Robinhood Markets in the 4th quarter valued at $37,000. Spire Wealth Management raised its position in shares of Robinhood Markets by 104.6% during the fourth quarter. Spire Wealth Management now owns 1,074 shares of the company's stock worth $40,000 after acquiring an additional 549 shares during the last quarter. Finally, Allworth Financial LP lifted its stake in shares of Robinhood Markets by 130.7% during the fourth quarter. Allworth Financial LP now owns 1,135 shares of the company's stock valued at $42,000 after acquiring an additional 643 shares during the period. 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.