Robinhood Markets (NASDAQ:HOOD) PT Lowered to $23.00 at The Goldman Sachs Group

Robinhood Markets (NASDAQ:HOOD) had its price objective trimmed by The Goldman Sachs Group from $31.00 to $23.00 in a report released on Tuesday morning, Analyst Ratings Network reports. The brokerage currently has a neutral rating on the stock.

A number of other equities research analysts also recently issued reports on the stock. Bank of America initiated coverage on shares of Robinhood Markets in a report on Wednesday, December 15th. They issued an underperform rating and a $22.00 price target on the stock. Barclays lowered their price target on shares of Robinhood Markets from $50.00 to $42.00 and set an equal weight rating on the stock in a report on Wednesday, October 27th. Rosenblatt Securities lowered their price target on shares of Robinhood Markets from $55.00 to $50.00 and set a buy rating on the stock in a report on Wednesday, October 27th. KeyCorp decreased their price objective on shares of Robinhood Markets from $55.00 to $50.00 and set an overweight rating on the stock in a research report on Wednesday, October 27th. Finally, Piper Sandler decreased their price objective on shares of Robinhood Markets from $38.00 to $17.00 and set a neutral rating on the stock in a research report on Monday, January 10th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $35.96.

NASDAQ HOOD opened at $15.17 on Tuesday. Robinhood Markets has a 52 week low of $14.73 and a 52 week high of $85.00. The firm’s 50-day simple moving average is $23.04.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Tuesday, October 26th. The company reported ($2.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.37) by ($0.69). Robinhood Markets had a negative return on equity of 282.13% and a negative net margin of 183.63%. The firm had revenue of $364.90 million during the quarter, compared to analysts’ expectations of $437.55 million. Robinhood Markets’s revenue for the quarter was up 35.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Robinhood Markets will post -0.26 EPS for the current year.

In other news, COO Gretchen Howard sold 17,159 shares of the firm’s stock in a transaction that occurred on Monday, November 8th. The shares were sold at an average price of $38.03, for a total value of $652,556.77. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Baiju Bhatt sold 120,651 shares of the firm’s stock in a transaction that occurred on Thursday, October 28th. The stock was sold at an average price of $34.86, for a total transaction of $4,205,893.86. The disclosure for this sale can be found here. Insiders have sold 444,683 shares of company stock worth $13,310,501 over the last quarter.

Institutional investors have recently modified their holdings of the company. HM Payson & Co. bought a new position in shares of Robinhood Markets in the third quarter worth approximately $25,000. Ironwood Financial llc bought a new position in shares of Robinhood Markets in the third quarter worth approximately $26,000. Fifth Third Bancorp purchased a new stake in Robinhood Markets in the third quarter worth $28,000. Rockefeller Capital Management L.P. purchased a new stake in Robinhood Markets in the third quarter worth $28,000. Finally, Koshinski Asset Management Inc. purchased a new stake in Robinhood Markets in the third quarter worth $29,000. Hedge funds and other institutional investors own 55.37% of the company’s stock.

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), 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 650 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; and lists, which allow users to create custom watchlists to monitor securities, ETFs, and cryptocurrencies, as well as cash management services.

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Analyst Recommendations for Robinhood Markets (NASDAQ:HOOD)

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