Robinhood Markets (NASDAQ:HOOD) Price Target Increased to $23.00 by Analysts at KeyCorp

Robinhood Markets (NASDAQ:HOOD) had its price objective upped by KeyCorp from $22.00 to $23.00 in a research report released on Monday, Benzinga reports. KeyCorp currently has an overweight rating on the stock.

Several other analysts also recently commented on HOOD. The Goldman Sachs Group raised their target price on shares of Robinhood Markets from $18.00 to $20.00 and gave the stock a neutral rating in a report on Monday, April 15th. JPMorgan Chase & Co. raised their target price on shares of Robinhood Markets from $10.00 to $12.00 and gave the stock an underweight rating in a report on Wednesday, February 14th. Citigroup downgraded shares of Robinhood Markets from a neutral rating to a sell rating and raised their target price for the stock from $13.00 to $16.00 in a report on Thursday, April 11th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Robinhood Markets from $12.00 to $16.00 and gave the stock a hold rating in a report on Tuesday, March 19th. Finally, Piper Sandler raised their target price on shares of Robinhood Markets from $12.50 to $17.00 and gave the stock a neutral rating in a report on Friday, April 12th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $18.88.

Robinhood Markets Price Performance

Robinhood Markets stock opened at $17.19 on Monday. The company’s 50 day simple moving average is $17.04 and its 200 day simple moving average is $12.75. Robinhood Markets has a fifty-two week low of $7.91 and a fifty-two week high of $20.55. The firm has a market capitalization of $15.03 billion, a price-to-earnings ratio of -28.65 and a beta of 1.69.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Tuesday, February 13th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.04. Robinhood Markets had a negative net margin of 29.01% and a negative return on equity of 7.87%. The business had revenue of $471.00 million for the quarter, compared to analyst estimates of $454.73 million. During the same quarter last year, the firm earned ($0.19) EPS. Robinhood Markets’s quarterly revenue was up 23.9% compared to the same quarter last year. As a group, analysts predict that Robinhood Markets will post 0.29 EPS for the current fiscal year.

Insider Activity at Robinhood Markets

In related news, CFO Jason Warnick sold 5,000 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $19.59, for a total value of $97,950.00. Following the completion of the transaction, the chief financial officer now directly owns 1,002,407 shares of the company’s stock, valued at $19,637,153.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now directly owns 738,291 shares of the company’s stock, valued at $7,833,267.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Jason Warnick sold 5,000 shares of Robinhood Markets stock in a transaction on Monday, April 1st. The stock was sold at an average price of $19.59, for a total transaction of $97,950.00. Following the transaction, the chief financial officer now directly owns 1,002,407 shares of the company’s stock, valued at $19,637,153.13. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,228,817 shares of company stock valued at $33,781,825. 20.81% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Robinhood Markets

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC bought a new position in Robinhood Markets during the first quarter worth $34,000. Spire Wealth Management bought a new position in Robinhood Markets during the fourth quarter worth $26,000. PNC Financial Services Group Inc. boosted its position in shares of Robinhood Markets by 46.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock valued at $29,000 after acquiring an additional 722 shares during the period. Peoples Bank KS bought a new stake in shares of Robinhood Markets in the third quarter valued at about $29,000. Finally, UniSuper Management Pty Ltd bought a new stake in shares of Robinhood Markets in the third quarter valued at about $30,000. 93.27% of the stock is owned by institutional investors.

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.