Robinhood Markets (NASDAQ:HOOD) Releases Quarterly Earnings Results, Beats Expectations By $0.13 EPS

Robinhood Markets (NASDAQ:HOOD) released its earnings results on Wednesday. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.41 by $0.13, Zacks reports. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%.

Robinhood Markets Stock Up 4.8 %

Shares of Robinhood Markets stock traded up $2.57 during trading on Wednesday, reaching $55.91. The company’s stock had a trading volume of 38,215,506 shares, compared to its average volume of 21,239,521. The business has a 50 day moving average price of $44.16 and a 200-day moving average price of $31.73. Robinhood Markets has a 12-month low of $11.43 and a 12-month high of $57.27. The company has a market capitalization of $49.42 billion, a P/E ratio of 94.76, a price-to-earnings-growth ratio of 0.73 and a beta of 2.13.

Analysts Set New Price Targets

Several research analysts have commented on the stock. KeyCorp boosted their price target on shares of Robinhood Markets from $50.00 to $57.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. 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 report on Tuesday, November 12th. Barclays lifted their price target on shares of Robinhood Markets from $49.00 to $54.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. The Goldman Sachs Group raised Robinhood Markets from a “neutral” rating to a “buy” rating and upped their target price for the company from $40.00 to $46.00 in a research report on Friday, December 6th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Robinhood Markets from $24.00 to $38.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Robinhood Markets has a consensus rating of “Moderate Buy” and a consensus price target of $46.67.

Insiders Place Their Bets

In other news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $38.22, for a total transaction of $477,750.00. Following the sale, the insider now owns 1,106,955 shares of the company’s stock, valued at $42,307,820.10. The trade was a 1.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Steven M. Quirk sold 19,861 shares of the company’s stock in a transaction that occurred on Sunday, December 1st. The stock was sold at an average price of $37.54, for a total value of $745,581.94. Following the completion of the sale, the insider now owns 395,166 shares in the company, valued at approximately $14,834,531.64. This represents a 4.79 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,948,427 shares of company stock worth $165,005,244. 19.95% of the stock is owned by corporate insiders.

About Robinhood Markets

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.