Robinhood Markets (NASDAQ:HOOD) PT Lowered to $23.00 at The Goldman Sachs Group

Robinhood Markets (NASDAQ:HOOD) had its price objective trimmed by The Goldman Sachs Group from $31.00 to $23.00 in a research report released on Tuesday morning, Price Targets.com reports. The brokerage currently has a neutral rating on the stock.

Several other equities analysts also recently weighed in on HOOD. JPMorgan Chase & Co. cut their target price on Robinhood Markets from $26.00 to $17.00 and set an underweight rating on the stock in a research report on Thursday, December 16th. Atlantic Securities downgraded Robinhood Markets from an overweight rating to a neutral rating and cut their target price for the company from $65.00 to $35.00 in a research report on Tuesday, November 16th. Deutsche Bank Aktiengesellschaft cut their target price on Robinhood Markets from $40.00 to $32.00 and set a hold rating on the stock in a research report on Friday, November 19th. Barclays cut their price objective on Robinhood Markets from $50.00 to $42.00 and set an equal weight rating on the stock in a research report on Wednesday, October 27th. Finally, Zacks Investment Research downgraded Robinhood Markets from a buy rating to a hold rating and set a $19.00 price objective on the stock. in a research report on Wednesday, January 5th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, Robinhood Markets currently has an average rating of Hold and a consensus price target of $35.96.

Shares of HOOD opened at $15.17 on Tuesday. Robinhood Markets has a 1 year low of $14.73 and a 1 year high of $85.00. The business’s 50 day moving average price is $23.04.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Tuesday, October 26th. The company reported ($2.06) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.37) by ($0.69). The firm had revenue of $364.90 million for the quarter, compared to analysts’ expectations of $437.55 million. Robinhood Markets had a negative return on equity of 282.13% and a negative net margin of 183.63%. The firm’s revenue for the quarter was up 35.4% on a year-over-year basis. As a group, equities research analysts predict that Robinhood Markets will post -0.26 earnings per share for the current fiscal year.

In related news, CEO Vladimir Tenev sold 120,647 shares of the company’s stock in a transaction on Thursday, October 28th. The stock was sold at an average price of $34.86, for a total transaction of $4,205,754.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jason Warnick sold 20,000 shares of the company’s stock in a transaction on Monday, January 10th. The stock was sold at an average price of $15.13, for a total value of $302,600.00. The disclosure for this sale can be found here. Insiders have sold a total of 444,683 shares of company stock worth $13,310,501 in the last three months.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. HM Payson & Co. purchased a new stake in shares of Robinhood Markets during the 3rd quarter worth $25,000. Ironwood Financial llc purchased a new stake in Robinhood Markets in the third quarter valued at about $26,000. Rockefeller Capital Management L.P. purchased a new stake in Robinhood Markets in the third quarter valued at about $28,000. Fifth Third Bancorp purchased a new stake in Robinhood Markets in the third quarter valued at about $28,000. Finally, Koshinski Asset Management Inc. purchased a new stake in Robinhood Markets in the third quarter valued at about $29,000. Hedge funds and other institutional investors own 55.37% 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), options, gold, and cryptocurrencies. The company also offers various learning and education solutions comprise Snacks, a digest of business news stories; Learn, which is a collection of approximately 650 articles, including guides, feature tutorials, and financial dictionary; Newsfeeds that offer access to free premium news from various sites, such as Barron’s, Reuters, and The Wall Street Journal; and lists, which allow users to create custom watchlists to monitor securities, ETFs, and cryptocurrencies, as well as cash management services.

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Analyst Recommendations for Robinhood Markets (NASDAQ:HOOD)

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