Robinhood Markets’ (HOOD) “Market Outperform” Rating Reaffirmed at JMP Securities

JMP Securities reissued their market outperform rating on shares of Robinhood Markets (NASDAQ:HOODFree Report) in a research report released on Friday, Benzinga reports. The brokerage currently has a $30.00 price objective on the stock.

Several other brokerages also recently weighed in on HOOD. KeyCorp increased their target price on Robinhood Markets from $22.00 to $23.00 and gave the company an overweight rating in a research note on Monday, April 22nd. Mizuho increased their target price on Robinhood Markets from $20.00 to $21.00 and gave the company a buy rating in a research note on Monday, May 6th. Deutsche Bank Aktiengesellschaft raised their price objective on Robinhood Markets from $12.00 to $16.00 and gave the stock a hold rating in a research report on Tuesday, March 19th. Citigroup downgraded Robinhood Markets from a neutral rating to a sell rating and raised their price objective for the stock from $13.00 to $16.00 in a research report on Thursday, April 11th. Finally, JPMorgan Chase & Co. raised their price objective on Robinhood Markets from $10.00 to $12.00 and gave the stock an underweight rating in a research report on Wednesday, February 14th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of $19.75.

View Our Latest Research Report on Robinhood Markets

Robinhood Markets Stock Performance

Shares of NASDAQ HOOD opened at $22.18 on Friday. The firm has a market cap of $19.49 billion, a price-to-earnings ratio of 147.87 and a beta of 1.83. The business’s 50-day simple moving average is $18.73 and its 200-day simple moving average is $14.98. Robinhood Markets has a 52 week low of $7.91 and a 52 week high of $23.69.

Robinhood Markets (NASDAQ:HOODGet Free Report) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.13. The business had revenue of $618.00 million for the quarter, compared to analyst estimates of $552.74 million. Robinhood Markets had a return on equity of 1.86% and a net margin of 6.22%. The firm’s revenue for the quarter was up 40.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.57) EPS. As a group, equities research analysts forecast that Robinhood Markets will post 0.53 earnings per share for the current year.

Insider Activity at Robinhood Markets

In related news, CEO Vladimir Tenev sold 250,000 shares of the firm’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $18.67, for a total transaction of $4,667,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Vladimir Tenev sold 250,000 shares of the firm’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $18.67, for a total transaction of $4,667,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Baiju Bhatt sold 16,667 shares of the firm’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $17.17, for a total value of $286,172.39. Following the sale, the insider now directly owns 36,045 shares of the company’s stock, valued at $618,892.65. The disclosure for this sale can be found here. Insiders sold 1,539,351 shares of company stock valued at $28,861,419 in the last three months. Corporate insiders own 19.95% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

Hedge funds and other institutional investors have recently made changes to their positions in the company. Spire Wealth Management acquired a new stake in shares of Robinhood Markets in the 4th quarter valued at $26,000. PNC Financial Services Group Inc. increased its stake in shares of Robinhood Markets by 46.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock valued at $29,000 after buying an additional 722 shares during the period. UniSuper Management Pty Ltd acquired a new stake in shares of Robinhood Markets in the 3rd quarter valued at $30,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Robinhood Markets in the 1st quarter valued at $34,000. Finally, Whittier Trust Co. increased its stake in shares of Robinhood Markets by 100.0% in the 4th quarter. Whittier Trust Co. now owns 4,634 shares of the company’s stock valued at $59,000 after buying an additional 2,317 shares during the period. 93.27% of the stock is owned by institutional investors and hedge funds.

About Robinhood Markets

(Get Free Report)

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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Analyst Recommendations for Robinhood Markets (NASDAQ:HOOD)

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