Morgan Stanley Forecasts Strong Price Appreciation for Robinhood Markets (NASDAQ:HOOD) Stock

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

Other equities analysts also recently issued research reports about the stock. Citigroup upped 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. Barclays increased their price target 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. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Robinhood Markets from $24.00 to $27.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. JMP Securities increased their target price on shares of Robinhood Markets from $30.00 to $33.00 and gave the company a “market outperform” rating in a research report on Thursday, October 31st. 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 investment analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Robinhood Markets currently has an average rating of “Hold” and a consensus target price of $26.10.

Robinhood Markets Stock Performance

Robinhood Markets stock opened at $32.22 on Monday. Robinhood Markets has a fifty-two week low of $7.91 and a fifty-two week high of $34.32. The company has a market capitalization of $28.48 billion, a PE ratio of 54.61, a P/E/G ratio of 0.79 and a beta of 1.84. The company has a 50 day moving average price of $25.20 and a 200-day moving average price of $22.19.

Robinhood Markets (NASDAQ:HOOD) last posted 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 business had revenue of $637.00 million for the quarter, compared to analysts’ expectations of $660.53 million. During the same period last year, the business posted ($0.09) EPS. The company’s revenue for the quarter was up 36.4% on a year-over-year basis. On average, analysts forecast that Robinhood Markets will post 0.72 earnings per share for the current year.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, Director Meyer Malka sold 105,875 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $30.00, for a total value of $3,176,250.00. Following the completion of the transaction, the director now owns 28,930,243 shares in the company, valued at approximately $867,907,290. This represents a 0.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Baiju Bhatt sold 139,916 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $19.55, for a total value of $2,735,357.80. The disclosure for this sale can be found here. Insiders sold a total of 4,710,549 shares of company stock worth $115,477,194 in the last three months. Company insiders own 19.95% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

Large investors have recently added to or reduced their stakes in the stock. HM Payson & Co. increased 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 worth $28,000 after purchasing an additional 410 shares in the last quarter. True Wealth Design LLC purchased a new stake in Robinhood Markets during the 3rd quarter worth approximately $30,000. Eastern Bank acquired a new position in shares of Robinhood Markets during the third quarter valued at approximately $30,000. ORG Wealth Partners LLC purchased a new position in shares of Robinhood Markets in the third quarter valued at approximately $33,000. Finally, ORG Partners LLC acquired a new stake in shares of Robinhood Markets in the second quarter worth approximately $33,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

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.