JMP Securities Increases Robinhood Markets (NASDAQ:HOOD) Price Target to $33.00

Robinhood Markets (NASDAQ:HOOD) had its price target increased by equities researchers at JMP Securities from $30.00 to $33.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “market outperform” rating on the stock. JMP Securities’ target price would indicate a potential upside of 37.67% from the stock’s previous close.

Several other analysts have also recently issued reports on the stock. Bank of America boosted their price objective on shares of Robinhood Markets from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, August 12th. JPMorgan Chase & Co. boosted their price target on Robinhood Markets from $17.00 to $21.00 and gave the company an “underweight” rating in a research report on Thursday, October 17th. The Goldman Sachs Group raised their price objective on Robinhood Markets from $22.50 to $25.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Citigroup boosted their target price on Robinhood Markets from $19.00 to $23.00 and gave the stock a “neutral” rating in a report on Friday, September 27th. Finally, Keefe, Bruyette & Woods cut their price target on shares of Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating on the stock in a report on Thursday, August 8th. One 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $25.17.

Robinhood Markets Trading Up 2.0 %

Robinhood Markets stock opened at $23.97 on Thursday. The stock has a fifty day moving average price of $23.44 and a 200 day moving average price of $21.40. Robinhood Markets has a 52 week low of $7.91 and a 52 week high of $28.58. The firm has a market capitalization of $21.21 billion, a P/E ratio of 40.63 and a beta of 1.84.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.01). Robinhood Markets had a return on equity of 7.61% and a net margin of 21.80%. The company had revenue of $637.00 million for the quarter, compared to analysts’ expectations of $660.53 million. During the same quarter in the previous year, the company earned ($0.09) earnings per share. The company’s revenue was up 36.4% on a year-over-year basis. As a group, equities analysts predict that Robinhood Markets will post 0.74 EPS for the current year.

Insider Activity

In related news, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $16.05, for a total value of $4,012,500.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $19.33, for a total transaction of $241,625.00. Following the completion of the transaction, the insider now directly owns 1,045,068 shares in the company, valued at approximately $20,201,164.44. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction on Monday, August 5th. The stock was sold at an average price of $16.05, for a total transaction of $4,012,500.00. The disclosure for this sale can be found here. Insiders sold 4,639,654 shares of company stock worth $110,241,632 over the last ninety days. Corporate insiders own 19.95% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. HM Payson & Co. raised 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 purchasing an additional 410 shares in the last quarter. Eastern Bank acquired a new stake in Robinhood Markets during the third quarter valued at approximately $30,000. ORG Wealth Partners LLC bought a new position in Robinhood Markets during the 3rd quarter worth approximately $33,000. ORG Partners LLC acquired a new position in shares of Robinhood Markets in the 2nd quarter worth approximately $33,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of Robinhood Markets in the 1st quarter valued at approximately $34,000. 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.