Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $45.00 at Citigroup

Robinhood Markets (NASDAQ:HOOD) had its target price upped by Citigroup from $25.00 to $45.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup’s price target suggests a potential upside of 12.92% from the company’s previous close.

Other research analysts have also issued research reports about the stock. Sanford C. Bernstein raised their price target on shares of Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Piper Sandler boosted their target price on shares of Robinhood Markets from $36.00 to $42.00 and gave the company an “overweight” rating in a report on Monday, December 2nd. Keefe, Bruyette & Woods boosted their price objective on Robinhood Markets from $24.00 to $38.00 and gave the company a “market perform” rating in a research note on Friday, December 20th. JPMorgan Chase & Co. raised Robinhood Markets from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $20.00 to $43.00 in a research note on Tuesday. Finally, JMP Securities raised their price objective on shares of Robinhood Markets from $33.00 to $40.00 and gave the stock a “market outperform” rating in a research report on Tuesday, November 12th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Robinhood Markets presently has an average rating of “Moderate Buy” and a consensus target price of $42.13.

Robinhood Markets Stock Performance

Shares of Robinhood Markets stock traded down $0.96 on Friday, hitting $39.85. The stock had a trading volume of 9,665,048 shares, compared to its average volume of 17,038,902. The stock has a 50 day moving average of $36.67 and a 200 day moving average of $27.29. Robinhood Markets has a twelve month low of $10.38 and a twelve month high of $43.83. The firm has a market capitalization of $35.23 billion, a P/E ratio of 67.54, a PEG ratio of 0.81 and a beta of 2.07.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.01). Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The business had revenue of $637.00 million during the quarter, compared to the consensus estimate of $660.53 million. During the same period in the prior year, the firm earned ($0.09) EPS. The business’s revenue for the quarter was up 36.4% compared to the same quarter last year. Equities analysts expect that Robinhood Markets will post 0.8 earnings per share for the current year.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $42.64, for a total value of $250,552.64. Following the completion of the sale, the chief technology officer now directly owns 5,876 shares of the company’s stock, valued at approximately $250,552.64. This represents a 50.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $24.21, for a total value of $6,052,500.00. The disclosure for this sale can be found here. In the last three months, insiders sold 3,708,196 shares of company stock valued at $138,845,043. 19.95% of the stock is owned by insiders.

Institutional Investors Weigh In On Robinhood Markets

Large investors have recently made changes to their positions in the business. HM Payson & Co. grew its position in Robinhood Markets by 53.5% during the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after buying an additional 410 shares during the period. Eastern Bank purchased a new position in Robinhood Markets in the third quarter valued at about $30,000. True Wealth Design LLC purchased a new position in Robinhood Markets in the third quarter valued at about $30,000. ORG Wealth Partners LLC bought a new position in shares of Robinhood Markets during the 3rd quarter valued at approximately $33,000. Finally, Connective Portfolio Management LLC bought a new stake in shares of Robinhood Markets in the 3rd quarter worth approximately $47,000. 93.27% of the stock is owned by hedge funds and other 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.