Robinhood Markets (NASDAQ:HOOD) Given New $20.00 Price Target at The Goldman Sachs Group

Robinhood Markets (NASDAQ:HOOD) had its price objective increased by The Goldman Sachs Group from $18.00 to $20.00 in a research report report published on Monday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

HOOD has been the subject of several other reports. Mizuho raised their price objective on Robinhood Markets from $17.00 to $20.00 and gave the company a buy rating in a research note on Tuesday, March 19th. JPMorgan Chase & Co. raised their price target on Robinhood Markets from $10.00 to $12.00 and gave the stock an underweight rating in a research report on Wednesday, February 14th. Barclays raised their price target on Robinhood Markets from $11.00 to $16.00 and gave the stock an underweight rating in a research report on Monday, April 8th. Piper Sandler raised their price target on Robinhood Markets from $12.50 to $17.00 and gave the stock a neutral rating in a research report on Friday. Finally, KeyCorp raised their price target on Robinhood Markets from $15.00 to $22.00 and gave the stock an overweight rating in a research report on Thursday, March 28th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $18.81.

Robinhood Markets Trading Down 4.3 %

Shares of HOOD stock opened at $17.19 on Monday. The company has a market cap of $15.03 billion, a price-to-earnings ratio of -28.65 and a beta of 1.68. The stock has a 50 day simple moving average of $16.46 and a 200-day simple moving average of $12.49. Robinhood Markets has a 12-month low of $7.91 and a 12-month high of $20.55.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Tuesday, February 13th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.04. Robinhood Markets had a negative return on equity of 7.87% and a negative net margin of 29.01%. The firm had revenue of $471.00 million during the quarter, compared to the consensus estimate of $454.73 million. During the same period last year, the business posted ($0.19) EPS. Robinhood Markets’s quarterly revenue was up 23.9% on a year-over-year basis. On average, equities analysts forecast that Robinhood Markets will post 0.29 earnings per share for the current fiscal year.

Insider Activity at Robinhood Markets

In related news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of Robinhood Markets stock in a transaction on Monday, February 5th. The stock was sold at an average price of $10.61, for a total value of $132,625.00. Following the transaction, the insider now owns 738,291 shares in the company, valued at $7,833,267.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Robinhood Markets news, insider Baiju Bhatt sold 188,077 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $13.57, for a total transaction of $2,552,204.89. Following the transaction, the insider now owns 36,045 shares in the company, valued at $489,130.65. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $10.61, for a total value of $132,625.00. Following the transaction, the insider now owns 738,291 shares in the company, valued at approximately $7,833,267.51. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,212,150 shares of company stock worth $33,495,819. 20.81% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of HOOD. Raymond James & Associates lifted its stake in shares of Robinhood Markets by 30.3% during the first quarter. Raymond James & Associates now owns 69,419 shares of the company’s stock worth $938,000 after purchasing an additional 16,133 shares in the last quarter. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Robinhood Markets during the first quarter worth about $199,000. Bank of New York Mellon Corp lifted its stake in shares of Robinhood Markets by 21.9% during the first quarter. Bank of New York Mellon Corp now owns 53,868 shares of the company’s stock worth $727,000 after purchasing an additional 9,661 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Robinhood Markets by 69.0% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 21,760 shares of the company’s stock worth $294,000 after purchasing an additional 8,882 shares in the last quarter. Finally, HighTower Advisors LLC increased its position in shares of Robinhood Markets by 38.2% during the first quarter. HighTower Advisors LLC now owns 92,318 shares of the company’s stock worth $1,248,000 after acquiring an additional 25,502 shares during the last quarter. Institutional investors and hedge funds 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.