Robinhood Markets (NASDAQ:HOOD) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Robinhood Markets (NASDAQ:HOOD) had its price objective lifted by The Goldman Sachs Group from $25.00 to $40.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price would indicate a potential upside of 4.00% from the company’s previous close.

A number of other research firms also recently issued reports on HOOD. Barclays lifted their target price on Robinhood Markets from $23.00 to $26.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Sanford C. Bernstein boosted their price target 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 lowered their price target on Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating on the stock in a research report on Thursday, August 8th. Morgan Stanley raised Robinhood Markets from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $24.00 to $55.00 in a research report on Monday, November 25th. Finally, Citigroup boosted their price target on Robinhood Markets from $19.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, September 27th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Robinhood Markets presently has an average rating of “Moderate Buy” and a consensus price target of $33.60.

Robinhood Markets Trading Up 2.5 %

Shares of NASDAQ:HOOD traded up $0.92 during midday trading on Monday, hitting $38.46. The company had a trading volume of 8,660,161 shares, compared to its average volume of 16,300,472. Robinhood Markets has a 12 month low of $9.33 and a 12 month high of $39.74. The stock has a market cap of $34.00 billion, a price-to-earnings ratio of 65.19, a PEG ratio of 0.87 and a beta of 1.84. The firm has a fifty day simple moving average of $28.43 and a 200 day simple moving average of $23.70.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.01). Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The business had revenue of $637.00 million for the quarter, compared to the consensus estimate of $660.53 million. During the same quarter in the prior year, the firm posted ($0.09) earnings per share. The business’s revenue was up 36.4% on a year-over-year basis. Equities analysts forecast that Robinhood Markets will post 0.74 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Meyer Malka sold 105,875 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $30.00, for a total transaction of $3,176,250.00. Following the completion of the transaction, the director now directly owns 28,930,243 shares in the company, valued at approximately $867,907,290. This represents a 0.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Vladimir Tenev sold 250,000 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $19.26, for a total transaction of $4,815,000.00. The disclosure for this sale can be found here. Insiders sold 4,685,549 shares of company stock worth $114,953,194 over the last three months. Insiders own 19.95% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Baker Avenue Asset Management LP increased its holdings in Robinhood Markets by 77.9% in the third quarter. Baker Avenue Asset Management LP now owns 464,306 shares of the company’s stock valued at $10,874,000 after purchasing an additional 203,354 shares during the period. Bridgewater Associates LP increased its holdings in Robinhood Markets by 100.4% in the third quarter. Bridgewater Associates LP now owns 330,956 shares of the company’s stock valued at $7,751,000 after purchasing an additional 165,791 shares during the period. EULAV Asset Management increased its holdings in Robinhood Markets by 22.2% in the third quarter. EULAV Asset Management now owns 550,000 shares of the company’s stock valued at $12,881,000 after purchasing an additional 100,000 shares during the period. Blueshift Asset Management LLC increased its holdings in Robinhood Markets by 376.5% in the third quarter. Blueshift Asset Management LLC now owns 144,941 shares of the company’s stock valued at $3,395,000 after purchasing an additional 114,525 shares during the period. Finally, Aigen Investment Management LP acquired a new stake in Robinhood Markets in the third quarter valued at $770,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

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.