Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $64.00

Robinhood Markets (NASDAQ:HOOD) had its target price increased by Morgan Stanley from $55.00 to $64.00 in a report released on Friday morning, Marketbeat Ratings reports. Morgan Stanley currently has an overweight rating on the stock.

Several other brokerages have also recently issued reports on HOOD. Keefe, Bruyette & Woods lifted their target price on Robinhood Markets from $24.00 to $38.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. JPMorgan Chase & Co. raised Robinhood Markets from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $20.00 to $43.00 in a research report on Tuesday, January 7th. JMP Securities lifted their price target on Robinhood Markets from $33.00 to $40.00 and gave the stock a “market outperform” rating in a report on Tuesday, November 12th. The Goldman Sachs Group upgraded Robinhood Markets from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $40.00 to $46.00 in a report on Friday, December 6th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Robinhood Markets from $36.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $43.07.

Robinhood Markets Stock Performance

Shares of Robinhood Markets stock opened at $48.15 on Friday. Robinhood Markets has a 52 week low of $10.38 and a 52 week high of $49.27. The stock has a 50 day moving average price of $38.63 and a two-hundred day moving average price of $28.25. The stock has a market capitalization of $42.56 billion, a PE ratio of 81.61, a price-to-earnings-growth ratio of 0.58 and a beta of 2.07.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.01). The company had revenue of $637.00 million for the quarter, compared to analysts’ expectations of $660.53 million. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The firm’s quarterly revenue was up 36.4% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.09) EPS. Research analysts forecast that Robinhood Markets will post 0.91 EPS for the current year.

Insider Transactions at Robinhood Markets

In other news, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $24.21, for a total value of $6,052,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Steven M. Quirk sold 19,861 shares of the business’s stock in a transaction dated Sunday, December 1st. The shares were sold at an average price of $37.54, for a total value of $745,581.94. Following the completion of the sale, the insider now directly owns 395,166 shares of the company’s stock, valued at approximately $14,834,531.64. This trade represents a 4.79 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 3,700,658 shares of company stock worth $140,360,682. 19.95% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Robinhood Markets

Hedge funds and other institutional investors have recently modified their holdings of the stock. HM Payson & Co. lifted its stake in shares of Robinhood Markets by 53.5% in the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after acquiring an additional 410 shares during the last quarter. True Wealth Design LLC bought a new position in Robinhood Markets during the 3rd quarter valued at approximately $30,000. Eastern Bank bought a new position in Robinhood Markets during the 3rd quarter valued at approximately $30,000. ORG Wealth Partners LLC bought a new position in Robinhood Markets during the 3rd quarter valued at approximately $33,000. Finally, Connective Portfolio Management LLC bought a new position in Robinhood Markets during the 3rd quarter valued at approximately $47,000. Institutional investors own 93.27% of the company’s stock.

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.