KeyCorp Raises Robinhood Markets (NASDAQ:HOOD) Price Target to $30.00

Robinhood Markets (NASDAQ:HOOD) had its price objective increased by KeyCorp from $25.00 to $30.00 in a research note published on Monday, Benzinga reports. KeyCorp currently has an overweight rating on the stock.

HOOD has been the subject of several other research reports. Bank of America lifted their price target on shares of Robinhood Markets from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Morgan Stanley lifted their target price on Robinhood Markets from $21.00 to $22.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Wolfe Research raised Robinhood Markets from a “peer perform” rating to an “outperform” rating and set a $29.00 price target on the stock in a research report on Wednesday, June 26th. Citigroup lifted their price objective on Robinhood Markets from $19.00 to $23.00 and gave the company a “neutral” rating in a report on Friday, September 27th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Robinhood Markets in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $24.97.

Robinhood Markets Stock Performance

Shares of NASDAQ HOOD opened at $26.70 on Monday. Robinhood Markets has a fifty-two week low of $7.91 and a fifty-two week high of $27.60. The company has a market cap of $23.46 billion, a price-to-earnings ratio of 178.00 and a beta of 1.84. The business’s 50 day moving average price is $22.38 and its 200-day moving average price is $20.97.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, August 7th. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.05. The business had revenue of $682.00 million for the quarter, compared to analyst estimates of $640.39 million. Robinhood Markets had a return on equity of 4.25% and a net margin of 12.96%. The business’s revenue was up 40.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.03 earnings per share. Sell-side analysts predict that Robinhood Markets will post 0.76 earnings per share for the current year.

Insider Activity

In related news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of Robinhood Markets stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $19.33, for a total value of $241,625.00. Following the completion of the sale, the insider now directly owns 1,045,068 shares in the company, valued at $20,201,164.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of Robinhood Markets stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $19.33, for a total transaction of $241,625.00. Following the completion of the sale, the insider now owns 1,045,068 shares of the company’s stock, valued at approximately $20,201,164.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Baiju Bhatt sold 143,944 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $18.73, for a total value of $2,696,071.12. The disclosure for this sale can be found here. Insiders have sold a total of 4,639,654 shares of company stock worth $110,241,632 over the last 90 days. 19.95% of the stock is currently owned by corporate insiders.

Institutional Trading of Robinhood Markets

Institutional investors and hedge funds have recently bought and sold shares of the business. PNC Financial Services Group Inc. raised its stake in shares of Robinhood Markets by 46.5% during 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 last quarter. Eastern Bank purchased a new position in Robinhood Markets during the third quarter valued at approximately $30,000. ORG Partners LLC acquired a new position in Robinhood Markets in the second quarter valued at approximately $33,000. ORG Wealth Partners LLC purchased a new stake in Robinhood Markets in the 3rd quarter worth approximately $33,000. Finally, Allspring Global Investments Holdings LLC purchased a new stake in Robinhood Markets in the 1st quarter worth approximately $34,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

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.