Robinhood Markets (NASDAQ:HOOD – Get Free Report) had its target price boosted by Piper Sandler from $70.00 to $110.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s target price points to a potential upside of 6.54% from the company’s previous close.
A number of other research firms have also recently commented on HOOD. KeyCorp boosted their price target on Robinhood Markets from $60.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday, July 1st. Cantor Fitzgerald boosted their price target on Robinhood Markets from $89.00 to $100.00 and gave the stock an “overweight” rating in a report on Tuesday, July 1st. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $60.00 target price on shares of Robinhood Markets in a report on Thursday, March 27th. The Goldman Sachs Group upped their target price on Robinhood Markets from $91.00 to $104.00 and gave the stock a “buy” rating in a report on Monday, July 7th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Robinhood Markets from $70.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, June 9th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $85.29.
View Our Latest Report on HOOD
Robinhood Markets Stock Performance
Robinhood Markets (NASDAQ:HOOD – Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.04). Robinhood Markets had a return on equity of 15.42% and a net margin of 48.77%. The business had revenue of $927.00 million for the quarter, compared to analyst estimates of $917.12 million. During the same period last year, the firm posted $0.18 EPS. Robinhood Markets’s quarterly revenue was up 50.0% on a year-over-year basis. Research analysts predict that Robinhood Markets will post 1.35 EPS for the current fiscal year.
Insider Activity at Robinhood Markets
In other Robinhood Markets news, insider Steven M. Quirk sold 92,257 shares of the stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $84.96, for a total value of $7,838,154.72. Following the transaction, the insider owned 136,364 shares in the company, valued at approximately $11,585,485.44. This represents a 40.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Vladimir Tenev sold 114,175 shares of the stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $101.65, for a total value of $11,605,888.75. The disclosure for this sale can be found here. Insiders have sold 2,364,145 shares of company stock worth $181,837,741 over the last quarter. 14.47% of the stock is owned by company insiders.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the stock. Diversified Enterprises LLC bought a new position in shares of Robinhood Markets in the second quarter valued at approximately $248,000. West Branch Capital LLC bought a new stake in Robinhood Markets during the second quarter worth $94,000. ST Germain D J Co. Inc. bought a new stake in Robinhood Markets during the second quarter worth $72,000. Strategic Investment Solutions Inc. IL lifted its holdings in Robinhood Markets by 96,125.0% during the second quarter. Strategic Investment Solutions Inc. IL now owns 3,849 shares of the company’s stock worth $360,000 after acquiring an additional 3,845 shares during the period. Finally, Five Oceans Advisors bought a new stake in Robinhood Markets during the second quarter worth $265,000. 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.
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