Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $24.00

Robinhood Markets (NASDAQ:HOOD) had its price target lifted by Morgan Stanley from $22.00 to $24.00 in a research report sent to investors on Monday,Benzinga reports. They currently have an equal weight rating on the stock.

Several other research analysts also recently weighed in on HOOD. Needham & Company LLC reissued a “hold” rating on shares of Robinhood Markets in a research note on Thursday, October 31st. Barclays boosted their price objective on shares of Robinhood Markets from $23.00 to $26.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. raised their target price on shares of Robinhood Markets from $17.00 to $21.00 and gave the stock an “underweight” rating in a research report on Thursday, October 17th. Citigroup lifted their target price on shares of Robinhood Markets from $19.00 to $23.00 and gave the stock a “neutral” rating in a research note on Friday, September 27th. Finally, KeyCorp increased their price target on Robinhood Markets from $25.00 to $30.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $26.10.

Robinhood Markets Price Performance

HOOD stock opened at $31.91 on Monday. The company’s 50 day simple moving average is $24.95 and its 200-day simple moving average is $22.12. Robinhood Markets has a 12 month low of $7.91 and a 12 month high of $34.32. The firm has a market capitalization of $28.21 billion, a PE ratio of 54.09, a P/E/G ratio of 0.79 and a beta of 1.84.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The company had revenue of $637.00 million for the quarter, compared to analyst estimates of $660.53 million. During the same quarter last year, the company posted ($0.09) EPS. Robinhood Markets’s quarterly revenue was up 36.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Robinhood Markets will post 0.72 earnings per share for the current year.

Insider Transactions at Robinhood Markets

In other news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 1,045,068 shares in the company, valued at approximately $20,201,164.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Robinhood Markets news, Director Meyer Malka sold 105,875 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $30.00, for a total value of $3,176,250.00. Following the transaction, the director now directly owns 28,930,243 shares of the company’s stock, valued at $867,907,290. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $19.33, for a total value of $241,625.00. Following the completion of the sale, the insider now directly owns 1,045,068 shares of the company’s stock, valued at $20,201,164.44. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,710,549 shares of company stock worth $115,477,194 in the last three months. 19.95% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Robinhood Markets

Several hedge funds have recently modified their holdings of HOOD. HM Payson & Co. raised its stake 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 valued at $28,000 after purchasing an additional 410 shares during the period. Eastern Bank acquired a new stake in Robinhood Markets during the 3rd quarter valued at $30,000. ORG Wealth Partners LLC purchased a new stake in Robinhood Markets during the 3rd quarter worth $33,000. ORG Partners LLC acquired a new position in Robinhood Markets in the 2nd quarter worth $33,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in Robinhood Markets in the 1st quarter valued at about $34,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

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.