Robinhood Markets (NASDAQ:HOOD) Given New $20.00 Price Target at Piper Sandler

Robinhood Markets (NASDAQ:HOOD) had its price target upped by Piper Sandler from $18.00 to $20.00 in a research note issued to investors on Tuesday, Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

A number of other research firms have also commented on HOOD. Mizuho raised their price target on shares of Robinhood Markets from $20.00 to $21.00 and gave the stock a buy rating in a research report on Monday, May 6th. Wolfe Research raised shares of Robinhood Markets from a peer perform rating to an outperform rating and set a $29.00 target price on the stock in a report on Wednesday, June 26th. Barclays raised their target price on shares of Robinhood Markets from $16.00 to $18.00 and gave the company an underweight rating in a report on Thursday, May 9th. Keefe, Bruyette & Woods started coverage on shares of Robinhood Markets in a report on Wednesday, April 3rd. They issued a market perform rating and a $20.00 target price on the stock. Finally, Bank of America raised shares of Robinhood Markets from an underperform rating to a buy rating and raised their target price for the company from $14.00 to $24.00 in a report on Friday, May 17th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $21.10.

Robinhood Markets Stock Performance

NASDAQ HOOD opened at $22.04 on Tuesday. The firm has a 50-day moving average of $21.03 and a 200-day moving average of $17.06. The stock has a market cap of $19.37 billion, a PE ratio of 146.93 and a beta of 1.84. Robinhood Markets has a 52-week low of $7.91 and a 52-week high of $24.28.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.13. Robinhood Markets had a net margin of 6.22% and a return on equity of 1.86%. The business had revenue of $618.00 million for the quarter, compared to analyst estimates of $552.74 million. During the same period last year, the firm earned ($0.57) earnings per share. Robinhood Markets’s revenue for the quarter was up 40.1% compared to the same quarter last year. As a group, analysts predict that Robinhood Markets will post 0.56 EPS for the current fiscal year.

Insider Transactions at Robinhood Markets

In related news, Director Baiju Bhatt sold 16,667 shares of the business’s stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $17.16, for a total value of $286,005.72. Following the sale, the director now owns 36,045 shares of the company’s stock, valued at $618,532.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $17.83, for a total transaction of $222,875.00. Following the sale, the insider now owns 854,995 shares of the company’s stock, valued at $15,244,560.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Baiju Bhatt sold 16,667 shares of the company’s stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $17.16, for a total transaction of $286,005.72. Following the sale, the director now directly owns 36,045 shares in the company, valued at approximately $618,532.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,494,233 shares of company stock worth $29,762,641. Corporate insiders own 19.95% of the company’s stock.

Institutional Trading of Robinhood Markets

A number of institutional investors have recently bought and sold shares of the company. Angeles Wealth Management LLC boosted its position in shares of Robinhood Markets by 5.3% during the 1st quarter. Angeles Wealth Management LLC now owns 12,207 shares of the company’s stock worth $246,000 after purchasing an additional 610 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Robinhood Markets by 44.9% during the 2nd quarter. GAMMA Investing LLC now owns 2,290 shares of the company’s stock worth $52,000 after purchasing an additional 710 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Robinhood Markets by 46.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock worth $29,000 after purchasing an additional 722 shares in the last quarter. Commerce Bank boosted its position in shares of Robinhood Markets by 7.9% during the 4th quarter. Commerce Bank now owns 12,459 shares of the company’s stock worth $159,000 after purchasing an additional 917 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its position in shares of Robinhood Markets by 4.7% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 23,642 shares of the company’s stock worth $310,000 after purchasing an additional 1,060 shares in the last quarter. 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.