JMP Securities Reaffirms Market Outperform Rating for Robinhood Markets (NASDAQ:HOOD)

JMP Securities restated their market outperform rating on shares of Robinhood Markets (NASDAQ:HOODFree Report) in a research note issued to investors on Thursday morning, Benzinga reports. They currently have a $30.00 target price on the stock.

Several other research firms also recently issued reports on HOOD. Barclays upped their price objective on Robinhood Markets from $16.00 to $18.00 and gave the company an underweight rating in a research note on Thursday, May 9th. Piper Sandler upped their price objective on Robinhood Markets from $17.00 to $18.00 and gave the company a neutral rating in a research note on Thursday, May 9th. The Goldman Sachs Group upped their price objective on Robinhood Markets from $18.00 to $20.00 and gave the company a neutral rating in a research note on Monday, April 15th. Keefe, Bruyette & Woods initiated coverage on Robinhood Markets in a research note on Wednesday, April 3rd. They issued a market perform rating and a $20.00 price objective for the company. Finally, JPMorgan Chase & Co. upped their price objective on Robinhood Markets from $10.00 to $12.00 and gave the company an underweight rating in a research note on Wednesday, February 14th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Hold and an average price target of $19.75.

Check Out Our Latest Report on HOOD

Robinhood Markets Trading Up 12.2 %

Shares of NASDAQ HOOD opened at $20.09 on Thursday. The company has a market cap of $17.66 billion, a price-to-earnings ratio of 133.93 and a beta of 1.74. Robinhood Markets has a 12 month low of $7.91 and a 12 month high of $20.55. The stock has a 50-day moving average price of $18.01 and a two-hundred day moving average price of $13.83.

Robinhood Markets (NASDAQ:HOODGet Free Report) last issued its earnings results on Wednesday, May 8th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.05 by $0.13. The firm had revenue of $618.00 million during the quarter, compared to the consensus estimate of $552.74 million. Robinhood Markets had a return on equity of 1.86% and a net margin of 6.22%. The business’s quarterly revenue was up 40.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.57) earnings per share. On average, sell-side analysts predict that Robinhood Markets will post 0.53 earnings per share for the current year.

Insiders Place Their Bets

In other Robinhood Markets news, Director Baiju Bhatt sold 16,667 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $18.27, for a total transaction of $304,506.09. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Baiju Bhatt sold 16,667 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $18.27, for a total value of $304,506.09. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Vladimir Tenev sold 500,000 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $15.12, for a total value of $7,560,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,577,873 shares of company stock worth $41,719,157. Corporate insiders own 20.81% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

Several large investors have recently bought and sold shares of HOOD. Norges Bank bought a new position in Robinhood Markets during the 4th quarter valued at $84,165,000. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Robinhood Markets by 9.4% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 29,205,693 shares of the company’s stock valued at $372,081,000 after acquiring an additional 2,517,012 shares in the last quarter. Nikko Asset Management Americas Inc. lifted its stake in Robinhood Markets by 9.6% during the 4th quarter. Nikko Asset Management Americas Inc. now owns 28,297,822 shares of the company’s stock valued at $360,514,000 after acquiring an additional 2,486,986 shares in the last quarter. Vanguard Group Inc. lifted its stake in Robinhood Markets by 4.5% during the 3rd quarter. Vanguard Group Inc. now owns 57,261,184 shares of the company’s stock valued at $561,732,000 after acquiring an additional 2,459,702 shares in the last quarter. Finally, ARK Investment Management LLC lifted its stake in Robinhood Markets by 6.4% during the 4th quarter. ARK Investment Management LLC now owns 34,936,204 shares of the company’s stock valued at $445,087,000 after acquiring an additional 2,101,325 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors.

Robinhood Markets Company Profile

(Get Free Report)

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.

See Also

Analyst Recommendations for Robinhood Markets (NASDAQ:HOOD)

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