The Goldman Sachs Group Increases Robinhood Markets (NASDAQ:HOOD) Price Target to $82.00

Robinhood Markets (NASDAQ:HOOD) had its price objective lifted by equities researchers at The Goldman Sachs Group from $81.00 to $82.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 12.95% from the stock’s current price.

A number of other research firms have also recently issued reports on HOOD. Cantor Fitzgerald lowered their target price on Robinhood Markets from $62.00 to $60.00 and set an “overweight” rating for the company in a report on Thursday, May 1st. Compass Point began coverage on Robinhood Markets in a research note on Wednesday, March 19th. They issued a “buy” rating and a $61.00 price target for the company. JPMorgan Chase & Co. upped their price objective on Robinhood Markets from $44.00 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday, May 1st. Deutsche Bank Aktiengesellschaft raised their target price on shares of Robinhood Markets from $70.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, June 9th. Finally, Citigroup reduced their target price on Robinhood Markets from $60.00 to $50.00 and set a “neutral” rating for the company in a research note on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $57.17.

Robinhood Markets Price Performance

Robinhood Markets stock opened at $72.60 on Thursday. The business has a 50 day simple moving average of $56.22 and a 200 day simple moving average of $48.65. The company has a market capitalization of $64.28 billion, a PE ratio of 46.24, a price-to-earnings-growth ratio of 1.05 and a beta of 2.25. Robinhood Markets has a one year low of $13.98 and a one year high of $77.80.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.04). The company had revenue of $927.00 million during the quarter, compared to the consensus estimate of $917.12 million. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. The business’s revenue for the quarter was up 50.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.18 EPS. Equities analysts anticipate that Robinhood Markets will post 1.35 earnings per share for the current fiscal year.

Insider Activity at Robinhood Markets

In related news, CEO Vladimir Tenev sold 750,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $41.96, for a total transaction of $31,470,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the business’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $43.36, for a total transaction of $253,786.08. Following the sale, the chief technology officer now directly owns 11,706 shares in the company, valued at approximately $507,572.16. The trade was a 33.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,650,974 shares of company stock valued at $142,977,123 over the last ninety days. 14.47% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Robinhood Markets

Several hedge funds have recently added to or reduced their stakes in HOOD. MetLife Investment Management LLC lifted its holdings in shares of Robinhood Markets by 1.5% during the fourth quarter. MetLife Investment Management LLC now owns 11,806 shares of the company’s stock worth $440,000 after purchasing an additional 171 shares during the period. Cigna Investments Inc. New increased its stake in shares of Robinhood Markets by 2.7% in the first quarter. Cigna Investments Inc. New now owns 6,730 shares of the company’s stock valued at $280,000 after buying an additional 174 shares during the period. Hemington Wealth Management raised its position in shares of Robinhood Markets by 52.2% during the first quarter. Hemington Wealth Management now owns 636 shares of the company’s stock worth $26,000 after acquiring an additional 218 shares during the last quarter. Dorsey & Whitney Trust CO LLC raised its position in shares of Robinhood Markets by 2.4% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company’s stock worth $368,000 after acquiring an additional 233 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in shares of Robinhood Markets by 4.0% in the first quarter. Farther Finance Advisors LLC now owns 6,890 shares of the company’s stock worth $290,000 after acquiring an additional 265 shares during the period. 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.