Sanford C. Bernstein Increases Robinhood Markets (NASDAQ:HOOD) Price Target to $51.00

Robinhood Markets (NASDAQ:HOOD) had its price target increased by investment analysts at Sanford C. Bernstein from $30.00 to $51.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Sanford C. Bernstein’s price target points to a potential upside of 44.80% from the stock’s current price.

Several other equities research analysts have also recently weighed in on the company. Needham & Company LLC upgraded Robinhood Markets from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Monday. Bank of America upped their target price on Robinhood Markets from $28.00 to $32.00 and gave the company a “buy” rating in a report on Monday, August 12th. JPMorgan Chase & Co. upped their price objective on Robinhood Markets from $17.00 to $21.00 and gave the company an “underweight” rating in a research report on Thursday, October 17th. The Goldman Sachs Group cut their price objective on Robinhood Markets from $25.00 to $22.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Finally, Keefe, Bruyette & Woods lowered their target price on Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating for the company in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $28.66.

Robinhood Markets Price Performance

Shares of NASDAQ HOOD opened at $35.22 on Wednesday. The firm’s 50 day simple moving average is $26.67 and its 200-day simple moving average is $22.80. Robinhood Markets has a 12 month low of $7.98 and a 12 month high of $38.11. The stock has a market capitalization of $31.14 billion, a price-to-earnings ratio of 59.70, a PEG ratio of 0.82 and a beta of 1.84.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The firm had revenue of $637.00 million during the quarter, compared to analysts’ expectations of $660.53 million. During the same quarter in the previous year, the business posted ($0.09) EPS. The company’s revenue for the quarter was up 36.4% on a year-over-year basis. Analysts anticipate that Robinhood Markets will post 0.74 earnings per share for the current fiscal year.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, Director Baiju Bhatt sold 139,916 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $19.55, for a total transaction of $2,735,357.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $19.33, for a total transaction of $241,625.00. Following the transaction, the insider now directly owns 1,045,068 shares in the company, valued at $20,201,164.44. This trade represents a 1.18 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,710,549 shares of company stock worth $115,477,194. Company insiders own 19.95% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

Several large investors have recently modified their holdings of the stock. HM Payson & Co. boosted its holdings in Robinhood Markets by 53.5% in the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after purchasing an additional 410 shares during the period. True Wealth Design LLC bought a new stake in Robinhood Markets during the third quarter worth about $30,000. Eastern Bank bought a new stake in Robinhood Markets during the third quarter worth about $30,000. ORG Wealth Partners LLC purchased a new stake in shares of Robinhood Markets during the third quarter valued at approximately $33,000. Finally, ORG Partners LLC bought a new position in Robinhood Markets during the second quarter valued at approximately $33,000. Hedge funds and other institutional investors 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.