Robinhood Markets (NASDAQ:HOOD) Price Target Increased to $20.00 by Analysts at The Goldman Sachs Group

Robinhood Markets (NASDAQ:HOOD) had its price objective boosted by The Goldman Sachs Group from $18.00 to $20.00 in a research note issued to investors on Monday, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

HOOD has been the topic of a number of other reports. Piper Sandler lifted their price objective on Robinhood Markets from $12.50 to $17.00 and gave the stock a neutral rating in a research note on Friday, April 12th. Sanford C. Bernstein assumed coverage on Robinhood Markets in a report on Thursday, March 14th. They issued an outperform rating and a $30.00 target price on the stock. Keefe, Bruyette & Woods started coverage on shares of Robinhood Markets in a research note on Wednesday, April 3rd. They set a market perform rating and a $20.00 price target for the company. TheStreet upgraded shares of Robinhood Markets from a d+ rating to a c- rating in a report on Wednesday, February 28th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Robinhood Markets from $10.00 to $12.00 and gave the company an underweight rating in a report on Wednesday, February 14th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Hold and an average target price of $18.81.

Robinhood Markets Stock Performance

HOOD stock opened at $17.08 on Monday. The company has a market capitalization of $14.94 billion, a P/E ratio of -28.47 and a beta of 1.69. The company has a fifty day moving average price of $16.72 and a 200-day moving average price of $12.58. Robinhood Markets has a 52-week low of $7.91 and a 52-week high of $20.55.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Tuesday, February 13th. The company reported $0.03 EPS for the quarter, topping 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 firm had revenue of $471.00 million for the quarter, compared to the consensus estimate of $454.73 million. During the same period in the previous year, the business earned ($0.19) EPS. The business’s quarterly revenue was up 23.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Robinhood Markets will post 0.29 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $10.61, for a total transaction of $2,652,500.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the firm’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $10.61, for a total transaction of $132,625.00. Following the completion of the sale, the insider now directly owns 738,291 shares of the company’s stock, valued at approximately $7,833,267.51. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction on Monday, February 5th. The stock was sold at an average price of $10.61, for a total value of $2,652,500.00. The disclosure for this sale can be found here. Insiders sold a total of 2,212,150 shares of company stock worth $33,495,819 over the last quarter. Insiders own 20.81% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

Several institutional investors have recently added to or reduced their stakes in the stock. Toth Financial Advisory Corp purchased a new position in Robinhood Markets in the first quarter valued at about $612,000. Atlas Capital Advisors LLC raised its holdings in shares of Robinhood Markets by 1,894.6% in the 1st quarter. Atlas Capital Advisors LLC now owns 28,682 shares of the company’s stock worth $577,000 after purchasing an additional 27,244 shares during the period. Counterpoint Mutual Funds LLC purchased a new position in Robinhood Markets in the first quarter valued at approximately $667,000. Gulf International Bank UK Ltd grew its holdings in Robinhood Markets by 5.3% during the first quarter. Gulf International Bank UK Ltd now owns 63,200 shares of the company’s stock valued at $1,272,000 after purchasing an additional 3,200 shares during the period. Finally, Banque Cantonale Vaudoise increased its position in Robinhood Markets by 21,404.0% in the first quarter. Banque Cantonale Vaudoise now owns 96,768 shares of the company’s stock worth $1,948,000 after buying an additional 96,318 shares during the last quarter. 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.