Robinhood Markets (NASDAQ:HOOD) Given New $23.00 Price Target at KeyCorp

Robinhood Markets (NASDAQ:HOOD) had its target price lifted by KeyCorp from $22.00 to $23.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. KeyCorp’s price target indicates a potential upside of 30.53% from the stock’s current price.

Several other research firms have also recently commented on HOOD. Deutsche Bank Aktiengesellschaft raised their target price on shares of Robinhood Markets from $12.00 to $16.00 and gave the stock a “hold” rating in a research report on Tuesday, March 19th. Morgan Stanley raised their target price on shares of Robinhood Markets from $11.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Barclays raised their target price on shares of Robinhood Markets from $11.00 to $16.00 and gave the stock an “underweight” rating in a research report on Monday, April 8th. The Goldman Sachs Group raised their target price on shares of Robinhood Markets from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Monday, April 15th. Finally, Citigroup cut shares of Robinhood Markets from a “neutral” rating to a “sell” rating and lifted their price target for the company from $13.00 to $16.00 in a research report on Thursday, April 11th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $18.88.

Robinhood Markets Stock Up 2.5 %

Shares of Robinhood Markets stock opened at $17.62 on Monday. The firm has a market cap of $15.41 billion, a PE ratio of -29.37 and a beta of 1.68. Robinhood Markets has a 12-month low of $7.91 and a 12-month high of $20.55. The company’s fifty day simple moving average is $17.15 and its two-hundred day simple moving average is $12.81.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Tuesday, February 13th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.04. Robinhood Markets had a negative net margin of 29.01% and a negative return on equity of 7.87%. The business had revenue of $471.00 million for the quarter, compared to analyst estimates of $454.73 million. During the same quarter last year, the firm earned ($0.19) EPS. The company’s revenue was up 23.9% on a year-over-year basis. As a group, sell-side analysts expect that Robinhood Markets will post 0.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of Robinhood Markets stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $10.61, for a total value of $132,625.00. Following the completion of the transaction, the insider now directly owns 738,291 shares of the company’s stock, valued at $7,833,267.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of Robinhood Markets stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $10.61, for a total value of $132,625.00. Following the completion of the transaction, the insider now directly owns 738,291 shares of the company’s stock, valued at $7,833,267.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $10.61, for a total transaction of $2,652,500.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,228,817 shares of company stock valued at $33,781,825. Insiders own 20.81% of the company’s stock.

Institutional Trading of Robinhood Markets

A number of large investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. grew its stake in shares of Robinhood Markets by 46.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock worth $29,000 after acquiring an additional 722 shares during the period. Commerce Bank grew its stake in shares of Robinhood Markets by 7.9% in the fourth quarter. Commerce Bank now owns 12,459 shares of the company’s stock worth $159,000 after acquiring an additional 917 shares during the period. DekaBank Deutsche Girozentrale grew its stake in shares of Robinhood Markets by 4.7% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 23,642 shares of the company’s stock worth $310,000 after acquiring an additional 1,060 shares during the period. Treasurer of the State of North Carolina grew its stake in shares of Robinhood Markets by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 291,573 shares of the company’s stock worth $2,860,000 after acquiring an additional 1,480 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in shares of Robinhood Markets by 6.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 23,591 shares of the company’s stock worth $301,000 after acquiring an additional 1,494 shares during the period. 93.27% of the stock is currently owned by institutional investors.

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.