Analysts Set Robinhood Markets, Inc. (NASDAQ:HOOD) Price Target at $59.53

Robinhood Markets, Inc. (NASDAQ:HOOD) has earned an average rating of “Moderate Buy” from the sixteen analysts that are covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $59.53.

A number of equities research analysts have issued reports on HOOD shares. JPMorgan Chase & Co. upped their price target on shares of Robinhood Markets from $39.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. The Goldman Sachs Group upgraded shares of Robinhood Markets from a “neutral” rating to a “buy” rating and upped their price target for the company from $40.00 to $46.00 in a report on Friday, December 6th. Sanford C. Bernstein upped their price target on shares of Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Piper Sandler upped their price objective on shares of Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Finally, Citigroup upped their price objective on shares of Robinhood Markets from $45.00 to $60.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th.

Insider Buying and Selling

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $38.22, for a total transaction of $477,750.00. Following the sale, the insider now directly owns 1,106,955 shares of the company’s stock, valued at approximately $42,307,820.10. This represents a 1.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Steven M. Quirk sold 123,272 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $55.80, for a total transaction of $6,878,577.60. Following the sale, the insider now directly owns 298,826 shares in the company, valued at $16,674,490.80. This represents a 29.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,624,018 shares of company stock valued at $206,917,425 over the last quarter. Corporate insiders own 19.95% of the company’s stock.

Institutional Trading of Robinhood Markets

Several large investors have recently added to or reduced their stakes in the company. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Robinhood Markets during the fourth quarter worth about $4,886,000. Employees Retirement System of Texas bought a new stake in Robinhood Markets during the fourth quarter worth about $1,609,000. Windmill Hill Asset Management Ltd bought a new stake in Robinhood Markets during the fourth quarter worth about $493,000. Ameriflex Group Inc. bought a new stake in Robinhood Markets during the fourth quarter worth about $48,000. Finally, GF Fund Management CO. LTD. bought a new stake in shares of Robinhood Markets during the fourth quarter valued at approximately $2,944,000. 93.27% of the stock is owned by institutional investors.

Robinhood Markets Price Performance

HOOD stock opened at $50.10 on Tuesday. Robinhood Markets has a 52-week low of $13.98 and a 52-week high of $66.91. The company has a 50-day moving average of $48.34 and a two-hundred day moving average of $34.99. The stock has a market capitalization of $44.29 billion, a price-to-earnings ratio of 31.91, a price-to-earnings-growth ratio of 1.05 and a beta of 2.13.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. Equities analysts expect that Robinhood Markets will post 1.35 EPS for the current fiscal year.

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.