Robinhood Markets (NASDAQ:HOOD) Price Target Increased to $23.00 by Analysts at KeyCorp

Robinhood Markets (NASDAQ:HOOD) had its price objective increased by KeyCorp from $22.00 to $23.00 in a research note published on Monday morning, Benzinga reports. KeyCorp currently has an overweight rating on the stock.

Several other equities analysts have also recently weighed in on the company. Sanford C. Bernstein started coverage on Robinhood Markets in a research note on Thursday, March 14th. They set an outperform rating and a $30.00 price objective on the stock. TheStreet upgraded Robinhood Markets from a d+ rating to a c- rating in a research note on Wednesday, February 28th. Keefe, Bruyette & Woods started coverage on Robinhood Markets in a research note on Wednesday, April 3rd. They set a market perform rating and a $20.00 target price on the stock. JPMorgan Chase & Co. lifted their target price on Robinhood Markets from $10.00 to $12.00 and gave the stock an underweight rating in a research note on Wednesday, February 14th. Finally, The Goldman Sachs Group lifted their target price on Robinhood Markets from $18.00 to $20.00 and gave the stock a neutral rating in a research note on Monday, April 15th. Three research 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. Based on data from MarketBeat, Robinhood Markets has a consensus rating of Hold and a consensus price target of $18.88.

Robinhood Markets Trading Up 3.4 %

Shares of NASDAQ:HOOD opened at $17.19 on Monday. The stock’s fifty day simple moving average is $17.04 and its two-hundred day simple moving average is $12.75. Robinhood Markets has a 1-year low of $7.91 and a 1-year high of $20.55. The stock has a market cap of $15.03 billion, a PE ratio of -28.65 and a beta of 1.69.

Robinhood Markets (NASDAQ:HOOD) last issued 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 business had revenue of $471.00 million for the quarter, compared to analysts’ expectations of $454.73 million. During the same period last year, the business earned ($0.19) EPS. The business’s revenue was up 23.9% on a year-over-year basis. On average, sell-side analysts forecast that Robinhood Markets will post 0.29 earnings per share for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In other news, CFO Jason Warnick sold 5,000 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $19.59, for a total transaction of $97,950.00. Following the completion of the transaction, the chief financial officer now owns 1,002,407 shares of the company’s stock, valued at $19,637,153.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Jason Warnick sold 5,000 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $19.59, for a total transaction of $97,950.00. Following the completion of the transaction, the chief financial officer now owns 1,002,407 shares of the company’s stock, valued at $19,637,153.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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 directly owns 738,291 shares of the company’s stock, valued at approximately $7,833,267.51. The disclosure for this sale can be found here. Insiders sold 2,228,817 shares of company stock valued at $33,781,825 in the last quarter. 20.81% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. CWM LLC lifted its position in Robinhood Markets by 61.1% in the 3rd quarter. CWM LLC now owns 8,488 shares of the company’s stock worth $83,000 after buying an additional 3,219 shares during the last quarter. AdvisorNet Financial Inc bought a new stake in Robinhood Markets in the 3rd quarter worth approximately $49,000. DnB Asset Management AS bought a new stake in Robinhood Markets in the 3rd quarter worth approximately $545,000. SG Americas Securities LLC bought a new stake in Robinhood Markets in the 3rd quarter worth approximately $1,449,000. Finally, Exchange Traded Concepts LLC lifted its position in Robinhood Markets by 174.1% in the 3rd quarter. Exchange Traded Concepts LLC now owns 11,631 shares of the company’s stock worth $114,000 after buying an additional 7,387 shares during the last quarter. Hedge funds and other institutional investors own 93.27% 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), 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.