Robinhood Markets (NASDAQ:HOOD) PT Lowered to $11.00

Robinhood Markets (NASDAQ:HOODGet Rating) had its price objective dropped by Piper Sandler from $13.00 to $11.00 in a report released on Friday, The Fly reports. Piper Sandler’s price target points to a potential upside of 9.02% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. Citigroup cut their price objective on shares of Robinhood Markets from $51.00 to $24.00 and set a “buy” rating on the stock in a report on Monday, January 31st. Bank of America cut their price objective on shares of Robinhood Markets from $22.00 to $13.00 and set an “underperform” rating on the stock in a report on Monday, January 31st. Mizuho initiated coverage on shares of Robinhood Markets in a report on Tuesday, February 1st. They set a “buy” rating and a $19.00 price objective on the stock. Wolfe Research cut their price objective on shares of Robinhood Markets from $15.00 to $10.00 in a report on Friday. Finally, Barclays lowered their target price on shares of Robinhood Markets from $42.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Friday, January 28th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Robinhood Markets currently has an average rating of “Hold” and an average price target of $21.52.

Shares of NASDAQ:HOOD opened at $10.09 on Friday. The firm’s 50 day moving average price is $11.95 and its 200 day moving average price is $19.59. Robinhood Markets has a fifty-two week low of $9.26 and a fifty-two week high of $85.00.

Robinhood Markets (NASDAQ:HOODGet Rating) last issued its earnings results on Thursday, April 28th. The company reported ($0.45) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.28) by ($0.17). Robinhood Markets had a negative net margin of 203.09% and a negative return on equity of 112.72%. The firm had revenue of $299.00 million during the quarter, compared to analyst estimates of $357.21 million. The firm’s revenue for the quarter was down 42.7% compared to the same quarter last year. As a group, analysts predict that Robinhood Markets will post -0.94 earnings per share for the current fiscal year.

In other news, insider Daniel Martin Gallagher, Jr. sold 31,307 shares of the company’s stock in a transaction on Friday, February 18th. The shares were sold at an average price of $11.88, for a total transaction of $371,927.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Baiju Bhatt sold 113,479 shares of the company’s stock in a transaction on Wednesday, February 2nd. The stock was sold at an average price of $14.09, for a total transaction of $1,598,919.11. The disclosure for this sale can be found here. Over the last quarter, insiders sold 320,352 shares of company stock worth $4,324,842.

A number of large investors have recently added to or reduced their stakes in HOOD. Commonwealth Equity Services LLC purchased a new position in Robinhood Markets in the 3rd quarter valued at about $356,000. Asset Management One Co. Ltd. purchased a new position in shares of Robinhood Markets during the 3rd quarter worth about $91,000. Victory Capital Management Inc. purchased a new position in shares of Robinhood Markets during the 3rd quarter worth about $1,101,000. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Robinhood Markets during the 3rd quarter worth about $616,000. Finally, Raymond James & Associates purchased a new position in shares of Robinhood Markets during the 3rd quarter worth about $1,151,000. Institutional investors own 51.54% of the company’s stock.

Robinhood Markets Company Profile (Get Rating)

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 also offers various learning and education solutions comprise Snacks, a digest of business news stories; Learn, which is a collection of approximately articles, including guides, feature tutorials, and financial dictionary; Newsfeeds that offer access to free premium news from various sites, such as Barron's, Reuters, and The Wall Street Journal; lists and alerts, which allow users to create custom watchlists and alerts to monitor securities, ETFs, and cryptocurrencies, as well as cash management services; and offers First trade recommendations to all new customers who have yet to place a trade.

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