Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $85.00

Robinhood Markets (NASDAQ:HOOD) had its target price lifted by Deutsche Bank Aktiengesellschaft from $70.00 to $85.00 in a research report sent to investors on Monday,Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock.

HOOD has been the subject of a number of other research reports. 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. Cantor Fitzgerald reduced their price target on Robinhood Markets from $62.00 to $60.00 and set an “overweight” rating for the company in a research report on Thursday, May 1st. Redburn Atlantic reiterated a “sell” rating and issued a $48.00 target price (up from $40.00) on shares of Robinhood Markets in a research note on Monday. Citigroup reduced their target price on shares of Robinhood Markets from $60.00 to $50.00 and set a “neutral” rating for the company in a report on Wednesday, April 2nd. Finally, JPMorgan Chase & Co. lifted their target price on Robinhood Markets from $44.00 to $47.00 and gave the stock a “neutral” rating in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Robinhood Markets currently has an average rating of “Moderate Buy” and a consensus target price of $56.17.

Robinhood Markets Stock Up 3.3%

Shares of Robinhood Markets stock opened at $74.88 on Monday. The company has a 50-day simple moving average of $54.68 and a 200 day simple moving average of $48.16. Robinhood Markets has a 12-month low of $13.98 and a 12-month high of $77.80. The stock has a market capitalization of $66.30 billion, a P/E ratio of 47.69, a price-to-earnings-growth ratio of 1.05 and a beta of 2.25.

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

Insider Transactions at Robinhood Markets

In other news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $71.64, for a total value of $1,791,000.00. Following the transaction, the insider now owns 841,887 shares in the company, valued at approximately $60,312,784.68. The trade was a 2.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Jeffrey Tsvi Pinner sold 5,865 shares of Robinhood Markets stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $73.49, for a total value of $431,018.85. Following the completion of the transaction, the chief technology officer now directly owns 20,636 shares of the company’s stock, valued at approximately $1,516,539.64. This trade represents a 22.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,232,636 shares of company stock valued at $111,898,793. 14.47% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Robinhood Markets

Several institutional investors have recently added to or reduced their stakes in the business. Cim LLC raised its position in shares of Robinhood Markets by 49.8% during the first quarter. Cim LLC now owns 81,911 shares of the company’s stock worth $3,409,000 after purchasing an additional 27,230 shares during the period. Silicon Valley Capital Partners lifted its stake in Robinhood Markets by 50.0% in the first quarter. Silicon Valley Capital Partners now owns 1,500 shares of the company’s stock valued at $63,000 after purchasing an additional 500 shares during the last quarter. Strs Ohio purchased a new stake in Robinhood Markets during the first quarter valued at about $11,216,000. Acadian Asset Management LLC boosted its holdings in shares of Robinhood Markets by 293.6% in the first quarter. Acadian Asset Management LLC now owns 144,791 shares of the company’s stock worth $6,018,000 after acquiring an additional 108,001 shares during the period. Finally, Geneos Wealth Management Inc. grew its stake in Robinhood Markets by 43.9% during the first quarter. Geneos Wealth Management Inc. now owns 7,860 shares of the company’s stock valued at $327,000 after acquiring an additional 2,398 shares in the last quarter. 93.27% of the stock is 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.