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

Robinhood Markets (NASDAQ:HOOD) had its price objective upped by Morgan Stanley from $43.00 to $110.00 in a research report released on Tuesday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Several other analysts have also issued reports on the company. KeyCorp boosted their price target on Robinhood Markets from $60.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, July 1st. JPMorgan Chase & Co. lifted their price target on shares of Robinhood Markets from $44.00 to $47.00 and gave the company a “neutral” rating in a report on Thursday, May 1st. Compass Point raised their price target on Robinhood Markets from $64.00 to $96.00 and gave the company a “buy” rating in a report on Friday, June 27th. Redburn Atlantic restated a “sell” rating and set a $48.00 target price (up from $40.00) on shares of Robinhood Markets in a research report on Monday, June 9th. Finally, Mizuho increased their price target on Robinhood Markets from $80.00 to $99.00 and gave the company an “outperform” rating in a report on Tuesday, July 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, Robinhood Markets currently has a consensus rating of “Moderate Buy” and an average target price of $85.29.

Robinhood Markets Stock Up 2.1%

NASDAQ:HOOD opened at $105.45 on Tuesday. The stock has a market cap of $93.37 billion, a price-to-earnings ratio of 59.92, a PEG ratio of 5.26 and a beta of 2.36. The company’s 50 day moving average price is $77.63 and its 200-day moving average price is $57.05. Robinhood Markets has a 52 week low of $13.98 and a 52 week high of $106.64.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.04). The firm had revenue of $927.00 million during the quarter, compared to analysts’ expectations of $917.12 million. Robinhood Markets had a return on equity of 15.42% and a net margin of 48.77%. The business’s quarterly revenue was up 50.0% on a year-over-year basis. During the same quarter last year, the business earned $0.18 earnings per share. As a group, sell-side analysts anticipate that Robinhood Markets will post 1.35 earnings per share for the current year.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 114,175 shares of the stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $101.65, for a total value of $11,605,888.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Jeffrey Tsvi Pinner sold 5,864 shares of Robinhood Markets stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $93.51, for a total value of $548,342.64. Following the transaction, the chief technology officer owned 8,908 shares in the company, valued at approximately $832,987.08. The trade was a 39.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,364,145 shares of company stock worth $181,837,741 over the last 90 days. Corporate insiders own 14.47% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new stake in Robinhood Markets during the 2nd quarter worth approximately $36,000. Whipplewood Advisors LLC lifted its holdings in Robinhood Markets by 564.4% during the 1st quarter. Whipplewood Advisors LLC now owns 598 shares of the company’s stock worth $25,000 after buying an additional 508 shares during the last quarter. Hemington Wealth Management lifted its holdings in Robinhood Markets by 52.2% during the 1st quarter. Hemington Wealth Management now owns 636 shares of the company’s stock worth $26,000 after buying an additional 218 shares during the last quarter. Wayfinding Financial LLC acquired a new position in Robinhood Markets in the first quarter valued at approximately $30,000. Finally, ST Germain D J Co. Inc. acquired a new position in shares of Robinhood Markets in the 2nd quarter valued at $72,000. 93.27% of the stock is currently owned by hedge funds and other 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.