Robinhood Markets (NASDAQ:HOOD – Get Rating) had its target price decreased by equities research analysts at JMP Securities from $36.00 to $28.00 in a report issued on Tuesday, The Fly reports. JMP Securities’ price target points to a potential upside of 235.73% from the stock’s current price.
HOOD has been the subject of several other research reports. Morgan Stanley assumed coverage on shares of Robinhood Markets in a research note on Wednesday, March 30th. They issued an “equal weight” rating and a $15.00 price objective for the company. JPMorgan Chase & Co. decreased their target price on shares of Robinhood Markets from $11.00 to $7.00 in a research note on Tuesday, June 14th. The Goldman Sachs Group upgraded shares of Robinhood Markets from a “sell” rating to a “neutral” rating and decreased their target price for the stock from $11.50 to $9.50 in a research note on Monday, June 27th. Wolfe Research decreased their target price on shares of Robinhood Markets from $15.00 to $10.00 in a research note on Friday, April 29th. Finally, Mizuho reduced their price objective on shares of Robinhood Markets from $19.00 to $14.00 in a research report on Monday, May 2nd. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $17.52.
Robinhood Markets stock opened at $8.34 on Tuesday. Robinhood Markets has a twelve month low of $6.81 and a twelve month high of $85.00. The stock’s fifty day simple moving average is $8.90 and its 200-day simple moving average is $11.63. The firm has a market capitalization of $7.27 billion and a P/E ratio of -0.76.
Robinhood Markets (NASDAQ:HOOD – Get Rating) last posted its quarterly earnings data on Thursday, April 28th. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.52. Robinhood Markets had a negative return on equity of 39.39% and a negative net margin of 203.12%. The business had revenue of $299.00 million for the quarter, compared to analyst estimates of $357.21 million. The business’s quarterly revenue was down 42.7% compared to the same quarter last year. On average, equities research analysts expect that Robinhood Markets will post -1.34 EPS for the current year.
In other news, CFO Jason Warnick sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 8th. The shares were sold at an average price of $8.53, for a total transaction of $170,600.00. Following the completion of the transaction, the chief financial officer now directly owns 426,407 shares of the company’s stock, valued at approximately $3,637,251.71. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Scott D. Sandell sold 8,792 shares of the firm’s stock in a transaction that occurred on Thursday, May 12th. The stock was sold at an average price of $8.41, for a total transaction of $73,940.72. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 307,975 shares of company stock valued at $3,060,792.
Several institutional investors and hedge funds have recently modified their holdings of HOOD. Vanguard Group Inc. increased its stake in shares of Robinhood Markets by 7,430.5% during the 1st quarter. Vanguard Group Inc. now owns 40,217,187 shares of the company’s stock worth $543,334,000 after purchasing an additional 39,683,128 shares in the last quarter. Ribbit Capital GP II Ltd. purchased a new stake in Robinhood Markets in the 4th quarter worth approximately $470,317,000. ARK Investment Management LLC grew its stake in Robinhood Markets by 141.5% in the 4th quarter. ARK Investment Management LLC now owns 23,847,924 shares of the company’s stock worth $423,539,000 after acquiring an additional 13,971,123 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Robinhood Markets by 227.4% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 14,982,340 shares of the company’s stock worth $266,086,000 after acquiring an additional 10,405,975 shares during the period. Finally, Nikko Asset Management Americas Inc. grew its stake in Robinhood Markets by 217.1% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 14,512,501 shares of the company’s stock worth $262,676,000 after acquiring an additional 9,936,136 shares during the period. 64.46% of the stock is owned by institutional investors and hedge funds.
About Robinhood Markets (Get Rating)
Robinhood Markets, Inc operates financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds (ETFs), options, gold, and cryptocurrencies. The company also offers various learning and education solutions comprise Snacks, a digest of business news stories; Learn, which is a collection of approximately articles, including guides, feature tutorials, and financial dictionary; Newsfeeds that offer access to free premium news from various sites, such as Barron’s, Reuters, and The Wall Street Journal; lists and alerts, which allow users to create custom watchlists and alerts to monitor securities, ETFs, and cryptocurrencies, as well as cash management services; and offers First trade recommendations to all new customers who have yet to place a trade.