JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Robinhood Markets (NASDAQ:HOOD) Stock

Robinhood Markets (NASDAQ:HOOD) had its price objective lifted by investment analysts at JPMorgan Chase & Co. from $39.00 to $45.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential downside of 31.07% from the stock’s current price.

Several other equities analysts have also recently issued reports on HOOD. KeyCorp lifted their price objective on shares of Robinhood Markets from $57.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday. Morgan Stanley upped their price target on Robinhood Markets from $64.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday. Sanford C. Bernstein raised their price objective on Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. Mizuho raised their price objective on Robinhood Markets from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Finally, The Goldman Sachs Group raised Robinhood Markets from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $40.00 to $46.00 in a research note on Friday, December 6th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Robinhood Markets presently has a consensus rating of “Moderate Buy” and an average target price of $58.07.

Robinhood Markets Stock Up 2.3 %

HOOD stock opened at $65.28 on Thursday. The stock has a market cap of $57.71 billion, a PE ratio of 110.65, a price-to-earnings-growth ratio of 0.73 and a beta of 2.13. The firm’s 50-day simple moving average is $45.45 and its 200 day simple moving average is $32.43. Robinhood Markets has a fifty-two week low of $13.04 and a fifty-two week high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.41 by $0.13. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. Equities analysts forecast that Robinhood Markets will post 0.97 EPS for the current fiscal year.

Insider Buying and Selling

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $37.92, for a total transaction of $222,817.92. Following the transaction, the chief technology officer now directly owns 11,752 shares in the company, valued at $445,635.84. This trade represents a 33.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Baiju Bhatt sold 186,514 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $38.13, for a total value of $7,111,778.82. Following the transaction, the director now owns 2,521 shares in the company, valued at approximately $96,125.73. This trade represents a 98.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,948,427 shares of company stock worth $165,005,244. Corporate insiders own 19.95% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

Institutional investors have recently bought and sold shares of the stock. Toronto Dominion Bank grew its position in shares of Robinhood Markets by 31.1% in the third quarter. Toronto Dominion Bank now owns 68,408 shares of the company’s stock valued at $1,602,000 after purchasing an additional 16,219 shares during the last quarter. Everence Capital Management Inc. acquired a new stake in shares of Robinhood Markets in the fourth quarter valued at about $634,000. Atomi Financial Group Inc. grew its position in Robinhood Markets by 20.7% during the fourth quarter. Atomi Financial Group Inc. now owns 540,910 shares of the company’s stock worth $20,154,000 after buying an additional 92,613 shares in the last quarter. Requisite Capital Management LLC acquired a new stake in Robinhood Markets during the fourth quarter worth about $266,000. Finally, Baker Avenue Asset Management LP grew its position in Robinhood Markets by 77.9% during the third quarter. Baker Avenue Asset Management LP now owns 464,306 shares of the company’s stock worth $10,874,000 after buying an additional 203,354 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors.

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.