Robinhood Markets (NASDAQ:HOOD) Price Target Cut to $11.00 by Analysts at Piper Sandler

Robinhood Markets (NASDAQ:HOODGet Rating) had its price objective trimmed by Piper Sandler from $13.00 to $11.00 in a research report report published on Friday, The Fly reports.

A number of other analysts have also recently issued reports on HOOD. JMP Securities reduced their price objective on shares of Robinhood Markets from $45.00 to $41.00 and set a market outperform rating for the company in a research note on Thursday, April 7th. Citigroup reduced their price objective on shares of Robinhood Markets from $51.00 to $24.00 and set a buy rating for the company in a research note on Monday, January 31st. KeyCorp reduced their price objective on shares of Robinhood Markets from $50.00 to $25.00 and set an overweight rating for the company in a research note on Friday, January 14th. Zacks Investment Research cut shares of Robinhood Markets from a buy rating to a hold rating in a research note on Saturday, April 2nd. Finally, Mizuho assumed coverage on shares of Robinhood Markets in a research note on Tuesday, February 1st. They set a buy rating and a $19.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $21.15.

Shares of HOOD stock opened at $9.81 on Friday. Robinhood Markets has a 12 month low of $9.00 and a 12 month high of $85.00. The stock has a market cap of $8.51 billion and a P/E ratio of -0.89. The company has a 50 day simple moving average of $11.91 and a two-hundred day simple moving average of $19.37.

Robinhood Markets (NASDAQ:HOODGet Rating) last announced its quarterly earnings data on Thursday, April 28th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.28) by ($0.17). The firm had revenue of $299.00 million during the quarter, compared to analysts’ expectations of $357.21 million. Robinhood Markets had a negative return on equity of 112.72% and a negative net margin of 203.09%. Robinhood Markets’s revenue was down 42.7% compared to the same quarter last year. On average, sell-side analysts predict that Robinhood Markets will post -0.94 earnings per share for the current year.

In other news, CFO Jason Warnick sold 20,000 shares of the firm’s stock in a transaction dated Friday, April 8th. The shares were sold at an average price of $11.29, for a total value of $225,800.00. Following the completion of the sale, the chief financial officer now owns 408,893 shares in the company, valued at approximately $4,616,401.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Baiju Bhatt sold 113,479 shares of the firm’s stock in a transaction dated Wednesday, February 2nd. The stock was sold at an average price of $14.09, for a total transaction of $1,598,919.11. The disclosure for this sale can be found here. Insiders have sold 320,352 shares of company stock valued at $4,324,842 in the last quarter.

Institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC increased its stake in Robinhood Markets by 209.0% in the 1st quarter. SG Americas Securities LLC now owns 457,713 shares of the company’s stock worth $6,184,000 after buying an additional 309,597 shares during the period. Chico Wealth RIA purchased a new position in Robinhood Markets in the 1st quarter worth about $172,000. TB Alternative Assets Ltd. purchased a new position in Robinhood Markets in the 1st quarter worth about $18,672,000. Keybank National Association OH purchased a new position in Robinhood Markets in the 1st quarter worth about $141,000. Finally, Parallel Advisors LLC increased its stake in Robinhood Markets by 29.2% in the 1st quarter. Parallel Advisors LLC now owns 4,668 shares of the company’s stock worth $68,000 after buying an additional 1,056 shares during the period. Hedge funds and other institutional investors own 51.54% of the company’s stock.

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.

Further Reading

The Fly logo

Analyst Recommendations for Robinhood Markets (NASDAQ:HOOD)

Receive News & Ratings for Robinhood Markets Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Robinhood Markets and related companies with MarketBeat.com's FREE daily email newsletter.