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

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

Several other equities research analysts have also recently issued reports on HOOD. KeyCorp boosted their price target on Robinhood Markets from $30.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. JMP Securities boosted their price target on Robinhood Markets from $33.00 to $40.00 and gave the company a “market outperform” rating in a research note on Tuesday, November 12th. Sanford C. Bernstein boosted their price target on Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Needham & Company LLC reiterated a “buy” rating and issued a $52.00 price target (up from $40.00) on shares of Robinhood Markets in a research note on Monday, December 9th. Finally, JPMorgan Chase & Co. upgraded Robinhood Markets from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $20.00 to $43.00 in a research note on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $43.07.

Robinhood Markets Stock Up 4.5 %

Shares of NASDAQ:HOOD opened at $48.15 on Friday. Robinhood Markets has a 12-month low of $10.38 and a 12-month high of $49.27. The stock has a market cap of $42.56 billion, a PE ratio of 81.61, a P/E/G ratio of 0.58 and a beta of 2.07. The business has a 50 day moving average of $38.63 and a 200-day moving average of $28.18.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly 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 during the quarter, compared to the consensus estimate of $660.53 million. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The company’s quarterly revenue was up 36.4% on a year-over-year basis. During the same quarter last year, the firm posted ($0.09) earnings per share. Equities research analysts expect that Robinhood Markets will post 0.91 earnings per share for the current year.

Insider Transactions at Robinhood Markets

In related news, Director Baiju Bhatt sold 108,964 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $24.92, for a total value of $2,715,382.88. Following the completion of the sale, the director now directly owns 2,521 shares in the company, valued at $62,823.32. This represents a 97.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction on Monday, November 4th. The shares were sold at an average price of $24.21, for a total value of $6,052,500.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,700,658 shares of company stock worth $140,360,682. Corporate insiders own 19.95% of the company’s stock.

Institutional Trading of Robinhood Markets

A number of institutional investors and hedge funds have recently bought and sold shares of HOOD. Toronto Dominion Bank grew its holdings in Robinhood Markets by 31.1% during the 3rd quarter. Toronto Dominion Bank now owns 68,408 shares of the company’s stock worth $1,602,000 after acquiring an additional 16,219 shares during the period. Everence Capital Management Inc. acquired a new stake in Robinhood Markets during the 4th quarter worth about $634,000. Baker Avenue Asset Management LP grew its holdings in Robinhood Markets by 77.9% during the 3rd quarter. Baker Avenue Asset Management LP now owns 464,306 shares of the company’s stock worth $10,874,000 after acquiring an additional 203,354 shares during the period. Bridgewater Associates LP grew its holdings in Robinhood Markets by 100.4% during the 3rd quarter. Bridgewater Associates LP now owns 330,956 shares of the company’s stock worth $7,751,000 after acquiring an additional 165,791 shares during the period. Finally, Friedenthal Financial acquired a new stake in Robinhood Markets during the 4th quarter worth about $764,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

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), 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.