The Goldman Sachs Group Increases Robinhood Markets (NASDAQ:HOOD) Price Target to $20.00

Robinhood Markets (NASDAQ:HOOD) had its target price lifted by equities researchers at The Goldman Sachs Group from $18.00 to $20.00 in a research report issued on Monday, Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target would suggest a potential upside of 15.54% from the stock’s current price.

Several other research firms also recently issued reports on HOOD. TheStreet upgraded shares of Robinhood Markets from a “d+” rating to a “c-” rating in a research note on Wednesday, February 28th. Sanford C. Bernstein started coverage on shares of Robinhood Markets in a research note on Thursday, March 14th. They issued an “outperform” rating and a $30.00 price objective for the company. JPMorgan Chase & Co. upped their price objective on shares of Robinhood Markets from $10.00 to $12.00 and gave the company an “underweight” rating in a research note on Wednesday, February 14th. Piper Sandler upped their price objective on shares of Robinhood Markets from $12.50 to $17.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Finally, Mizuho upped their price objective on shares of Robinhood Markets from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, March 19th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Robinhood Markets currently has an average rating of “Hold” and a consensus price target of $18.81.

Robinhood Markets Trading Up 0.7 %

Shares of HOOD stock opened at $17.31 on Monday. The firm has a fifty day moving average price of $16.59 and a 200 day moving average price of $12.55. The company has a market cap of $15.14 billion, a P/E ratio of -28.85 and a beta of 1.68. Robinhood Markets has a 12 month low of $7.91 and a 12 month high of $20.55.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Tuesday, February 13th. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.04. The firm had revenue of $471.00 million during the quarter, compared to the consensus estimate of $454.73 million. Robinhood Markets had a negative net margin of 29.01% and a negative return on equity of 7.87%. The company’s revenue was up 23.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.19) earnings per share. On average, equities analysts forecast that Robinhood Markets will post 0.29 EPS for the current year.

Insiders Place Their Bets

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the company’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 $132,625.00. Following the transaction, the insider now directly owns 738,291 shares in the company, valued at $7,833,267.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $10.61, for a total value of $132,625.00. Following the sale, the insider now directly owns 738,291 shares in the company, valued at $7,833,267.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $10.61, for a total transaction of $2,652,500.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,212,150 shares of company stock worth $33,495,819. 20.81% of the stock is owned by company insiders.

Institutional Trading of Robinhood Markets

Hedge funds have recently bought and sold shares of the company. PNC Financial Services Group Inc. boosted its position in Robinhood Markets by 46.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock worth $29,000 after acquiring an additional 722 shares during the last quarter. Commerce Bank raised its stake in Robinhood Markets by 7.9% during the fourth quarter. Commerce Bank now owns 12,459 shares of the company’s stock worth $159,000 after purchasing an additional 917 shares during the period. DekaBank Deutsche Girozentrale raised its stake in Robinhood Markets by 4.7% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 23,642 shares of the company’s stock worth $310,000 after purchasing an additional 1,060 shares during the period. Commonwealth Equity Services LLC raised its stake in Robinhood Markets by 3.8% during the third quarter. Commonwealth Equity Services LLC now owns 29,314 shares of the company’s stock worth $296,000 after purchasing an additional 1,082 shares during the period. Finally, Creative Planning raised its stake in Robinhood Markets by 6.1% during the fourth quarter. Creative Planning now owns 19,830 shares of the company’s stock worth $161,000 after purchasing an additional 1,146 shares during the period. Institutional investors and hedge funds 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.