Robinhood Markets, Inc. (NASDAQ:HOOD) Receives $13.14 Average Price Target from Brokerages

Robinhood Markets, Inc. (NASDAQ:HOOD) has received an average rating of “Hold” from the thirteen brokerages that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $15.46.

HOOD has been the subject of several research analyst reports. TheStreet raised Robinhood Markets from a “d+” rating to a “c-” rating in a research note on Wednesday, February 28th. The Goldman Sachs Group boosted their target price on Robinhood Markets from $10.00 to $11.50 and gave the company a “neutral” rating in a research note on Thursday, January 11th. JMP Securities boosted their price target on Robinhood Markets from $23.00 to $25.00 and gave the company a “market outperform” rating in a report on Wednesday, February 14th. Sanford C. Bernstein initiated coverage on Robinhood Markets in a research note on Thursday, March 14th. They issued an “outperform” rating and a $30.00 price target on the stock. Finally, Morgan Stanley cut their price target on Robinhood Markets from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Friday, November 24th.

Robinhood Markets Stock Up 0.3 %

HOOD stock opened at $18.21 on Tuesday. Robinhood Markets has a twelve month low of $7.91 and a twelve month high of $19.23. The stock’s 50 day moving average is $13.25 and its 200-day moving average is $11.26. The firm has a market capitalization of $15.93 billion, a PE ratio of -30.35 and a beta of 1.63.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $471.00 million for the quarter, compared to analyst estimates of $454.73 million. During the same period last year, the company posted ($0.19) earnings per share. Robinhood Markets’s quarterly revenue was up 23.9% compared to the same quarter last year. On average, equities research analysts anticipate that Robinhood Markets will post 0.2 earnings per share for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In other news, CEO Vladimir Tenev sold 250,000 shares of the firm’s stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $12.01, for a total transaction of $3,002,500.00. Following the sale, the chief executive officer now directly owns 41,134 shares in the company, valued at approximately $494,019.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 738,291 shares of the company’s stock, valued at $7,833,267.51. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $12.01, for a total value of $3,002,500.00. Following the completion of the sale, the chief executive officer now directly owns 41,134 shares in the company, valued at approximately $494,019.34. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,418,360 shares of company stock valued at $34,245,776. 20.81% of the stock is owned by insiders.

Hedge Funds Weigh In On Robinhood Markets

Institutional investors and hedge funds have recently modified their holdings of the company. Spire Wealth Management purchased a new position in Robinhood Markets in the 4th quarter valued at approximately $26,000. Covestor Ltd purchased a new position in Robinhood Markets in the 1st quarter valued at approximately $28,000. Peoples Bank KS purchased a new position in Robinhood Markets in the 3rd quarter valued at approximately $29,000. UniSuper Management Pty Ltd purchased a new position in Robinhood Markets in the 3rd quarter valued at approximately $30,000. Finally, Quantbot Technologies LP purchased a new position in Robinhood Markets in the 2nd quarter valued at approximately $28,000. Institutional investors and hedge funds own 58.98% 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), options, gold, and cryptocurrencies. The company provides various learning and education solutions comprise Snacks, a digest of business news stories; Learn, which is an online collection of beginners' guides, feature tutorials, and financial dictionary; Newsfeeds that offer access to free premium news from various sites, such as Barron's, Reuters, and Dow Jones; Snacks, an accessible digest of business news stories for new generation of investors.