The Goldman Sachs Group Forecasts Strong Price Appreciation for Robinhood Markets (NASDAQ:HOOD) Stock

Robinhood Markets (NASDAQ:HOOD) had its target price boosted by equities research analysts at The Goldman Sachs Group from $134.00 to $152.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective suggests a potential upside of 9.24% from the company’s current price.

Several other research analysts have also recently weighed in on HOOD. Mizuho boosted their price objective on Robinhood Markets from $120.00 to $145.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 10th. Morgan Stanley upped their price target on Robinhood Markets from $43.00 to $110.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 15th. Keefe, Bruyette & Woods upped their price target on Robinhood Markets from $89.00 to $106.00 and gave the company a “market perform” rating in a research report on Thursday, July 31st. Barclays upped their price target on Robinhood Markets from $102.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, July 31st. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Robinhood Markets from $70.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, June 9th. Eleven investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $110.88.

Robinhood Markets Stock Performance

Shares of HOOD opened at $139.14 on Tuesday. Robinhood Markets has a 52-week low of $22.05 and a 52-week high of $143.62. The business’s 50 day moving average price is $112.70 and its two-hundred day moving average price is $80.86. The firm has a market cap of $123.65 billion, a PE ratio of 70.63, a price-to-earnings-growth ratio of 5.10 and a beta of 2.42.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.30 by $0.12. The firm had revenue of $989.00 million during the quarter, compared to the consensus estimate of $893.93 million. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%.The company’s quarterly revenue was up 45.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.21 earnings per share. 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, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $124.13, for a total value of $727,898.32. Following the completion of the sale, the chief technology officer owned 17,816 shares in the company, valued at approximately $2,211,500.08. This trade represents a 24.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Steven M. Quirk sold 60,113 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $100.91, for a total value of $6,066,002.83. Following the completion of the sale, the insider owned 94,454 shares of the company’s stock, valued at approximately $9,531,353.14. This trade represents a 38.89% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,906,462 shares of company stock worth $509,427,417 over the last three months. Corporate insiders own 14.47% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in HOOD. Whipplewood Advisors LLC increased its position in Robinhood Markets by 564.4% during the 1st quarter. Whipplewood Advisors LLC now owns 598 shares of the company’s stock valued at $25,000 after buying an additional 508 shares in the last quarter. Hantz Financial Services Inc. increased its holdings in shares of Robinhood Markets by 120.3% in the 2nd quarter. Hantz Financial Services Inc. now owns 271 shares of the company’s stock worth $25,000 after purchasing an additional 148 shares in the last quarter. Hemington Wealth Management increased its holdings in shares of Robinhood Markets by 52.2% in the 1st quarter. Hemington Wealth Management now owns 636 shares of the company’s stock worth $26,000 after purchasing an additional 218 shares in the last quarter. Smithfield Trust Co bought a new stake in shares of Robinhood Markets in the 2nd quarter worth $29,000. Finally, Wayfinding Financial LLC bought a new stake in shares of Robinhood Markets in the 1st quarter worth $30,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

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.