Robinhood Markets (NASDAQ:HOOD – Get Free Report) had its price target raised by equities researchers at The Goldman Sachs Group from $22.50 to $25.00 in a report released on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target indicates a potential downside of 6.65% from the stock’s current price.
Several other brokerages have also recently issued reports on HOOD. JPMorgan Chase & Co. lifted their target price on shares of Robinhood Markets from $16.00 to $17.00 and gave the stock an “underweight” rating in a research note on Thursday, August 8th. Keefe, Bruyette & Woods reduced their price target on Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating on the stock in a report on Thursday, August 8th. Morgan Stanley lifted their price target on Robinhood Markets from $20.00 to $21.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 14th. Citigroup lifted their price target on Robinhood Markets from $19.00 to $23.00 and gave the stock a “neutral” rating in a report on Friday, September 27th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Robinhood Markets from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $24.10.
Check Out Our Latest Report on HOOD
Robinhood Markets Stock Performance
Robinhood Markets (NASDAQ:HOOD – Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.05. Robinhood Markets had a net margin of 12.96% and a return on equity of 4.25%. The firm had revenue of $682.00 million for the quarter, compared to analysts’ expectations of $640.39 million. During the same quarter last year, the company earned $0.03 EPS. The firm’s revenue for the quarter was up 40.3% compared to the same quarter last year. Analysts anticipate that Robinhood Markets will post 0.76 EPS for the current year.
Insider Transactions at Robinhood Markets
In other news, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $16.05, for a total transaction of $4,012,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $16.05, for a total transaction of $4,012,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Steven M. Quirk sold 208,291 shares of the business’s stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $24.98, for a total value of $5,203,109.18. Following the transaction, the insider now directly owns 346,020 shares of the company’s stock, valued at approximately $8,643,579.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,541,250 shares of company stock valued at $107,643,767. 19.95% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Robinhood Markets
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. ORG Wealth Partners LLC acquired a new position in Robinhood Markets in the third quarter valued at approximately $33,000. ORG Partners LLC acquired a new position in Robinhood Markets in the second quarter valued at approximately $33,000. Allspring Global Investments Holdings LLC acquired a new position in Robinhood Markets in the first quarter valued at approximately $34,000. International Assets Investment Management LLC acquired a new position in Robinhood Markets in the second quarter valued at approximately $40,000. Finally, Opal Wealth Advisors LLC acquired a new position in Robinhood Markets in the second quarter valued at approximately $45,000. 93.27% of the stock is owned by institutional investors and hedge funds.
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.
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