Morgan Stanley Forecasts Strong Price Appreciation for Robinhood Markets (NASDAQ:HOOD) Stock

Robinhood Markets (NASDAQ:HOOD) had its price target lifted by analysts at Morgan Stanley from $22.00 to $24.00 in a research report issued on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective indicates a potential downside of 27.27% from the company’s current price.

Several other research firms have also commented on HOOD. Needham & Company LLC restated a “hold” rating on shares of Robinhood Markets in a report on Thursday, October 31st. KeyCorp boosted their price objective on shares of Robinhood Markets from $25.00 to $30.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Piper Sandler lifted their price target on Robinhood Markets from $27.00 to $30.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Deutsche Bank Aktiengesellschaft boosted their price target on Robinhood Markets from $24.00 to $27.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Finally, JMP Securities raised their price objective on Robinhood Markets from $30.00 to $33.00 and gave the company a “market outperform” rating in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Robinhood Markets presently has an average rating of “Hold” and a consensus target price of $26.10.

Robinhood Markets Stock Up 0.6 %

HOOD opened at $33.00 on Monday. The stock’s fifty day moving average is $24.42 and its two-hundred day moving average is $21.94. The company has a market capitalization of $29.17 billion, a P/E ratio of 55.59, a PEG ratio of 0.73 and a beta of 1.84. Robinhood Markets has a 52 week low of $7.91 and a 52 week high of $34.32.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The firm had revenue of $637.00 million for the quarter, compared to the consensus estimate of $660.53 million. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. Robinhood Markets’s quarterly revenue was up 36.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.09) EPS. Equities analysts anticipate that Robinhood Markets will post 0.71 earnings per share for the current year.

Insider Buying and Selling at Robinhood Markets

In other news, CFO Jason Warnick sold 25,000 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $20.96, for a total transaction of $524,000.00. Following the sale, the chief financial officer now directly owns 1,077,162 shares of the company’s stock, valued at $22,577,315.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Robinhood Markets news, CFO Jason Warnick sold 25,000 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $20.96, for a total transaction of $524,000.00. Following the sale, the chief financial officer now owns 1,077,162 shares in the company, valued at approximately $22,577,315.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Meyer Malka sold 105,875 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $30.00, for a total value of $3,176,250.00. Following the completion of the transaction, the director now directly owns 28,930,243 shares in the company, valued at $867,907,290. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,710,549 shares of company stock worth $115,477,194. 19.95% of the stock is owned by corporate insiders.

Institutional Trading of Robinhood Markets

Several institutional investors and hedge funds have recently bought and sold shares of HOOD. HM Payson & Co. raised its holdings in shares of Robinhood Markets by 53.5% during the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock worth $28,000 after purchasing an additional 410 shares during the last quarter. Eastern Bank acquired a new position in shares of Robinhood Markets in the 3rd quarter valued at about $30,000. ORG Partners LLC acquired a new stake in Robinhood Markets during the second quarter worth about $33,000. ORG Wealth Partners LLC acquired a new stake in Robinhood Markets during the third quarter worth about $33,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in Robinhood Markets in the first quarter valued at approximately $34,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Robinhood Markets Company Profile

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.