Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $40.00 at JMP Securities

Robinhood Markets (NASDAQ:HOOD - Free Report) had its price target raised by JMP Securities from $33.00 to $40.00 in a research note published on Tuesday,Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

HOOD has been the topic of a number of other research reports. The Goldman Sachs Group reduced their price target on Robinhood Markets from $25.00 to $22.00 and set a "neutral" rating on the stock in a report on Friday, November 1st. Needham & Company LLC reissued a "hold" rating on shares of Robinhood Markets in a report on Thursday, October 31st. Piper Sandler boosted their price objective on shares of Robinhood Markets from $27.00 to $30.00 and gave the company an "overweight" rating in a report on Monday, October 21st. Citigroup upped their price target on shares of Robinhood Markets from $19.00 to $23.00 and gave the company a "neutral" rating in a research report on Friday, September 27th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Robinhood Markets from $27.00 to $32.00 and gave the company a "buy" rating in a report on Monday. One equities research 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. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $26.10.

Robinhood Markets Stock Performance

NASDAQ HOOD traded up $0.20 on Tuesday, hitting $33.00. The stock had a trading volume of 25,913,559 shares, compared to its average volume of 15,961,794. The company has a market capitalization of $29.17 billion, a price-to-earnings ratio of 55.59, a price-to-earnings-growth ratio of 0.73 and a beta of 1.84. Robinhood Markets has a 52-week low of $7.91 and a 52-week high of $34.32. The firm has a 50-day moving average of $24.42 and a 200-day moving average of $21.94.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, missing analysts' consensus estimates of $0.18 by ($0.01). The firm had revenue of $637.00 million for the quarter, compared to analysts' expectations of $660.53 million. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The company's revenue for the quarter was up 36.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.09) EPS. As a group, research analysts anticipate that Robinhood Markets will post 0.71 earnings per share for the current fiscal year.

Insider Activity at Robinhood Markets

In other news, CEO Vladimir Tenev sold 250,000 shares of the business's stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $19.26, for a total value of $4,815,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Robinhood Markets news, Director Baiju Bhatt sold 143,944 shares of the firm's stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $18.73, for a total value of $2,696,071.12. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Vladimir Tenev sold 250,000 shares of the company's stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $19.26, for a total transaction of $4,815,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,854,493 shares of company stock worth $118,173,265. 19.95% of the stock is owned by company insiders.

Institutional Investors Weigh In On Robinhood Markets

Several hedge funds and other institutional investors have recently bought and sold shares of the company. HM Payson & Co. increased its position 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 during the last quarter. Commerce Bank raised its holdings in Robinhood Markets by 3.3% during the third quarter. Commerce Bank now owns 13,245 shares of the company's stock worth $310,000 after purchasing an additional 423 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of Robinhood Markets by 16.5% in the 3rd quarter. Signaturefd LLC now owns 3,437 shares of the company's stock valued at $80,000 after buying an additional 487 shares in the last quarter. Castleview Partners LLC grew its stake in Robinhood Markets by 18.2% during the 3rd quarter. Castleview Partners LLC now owns 3,788 shares of the company's stock worth $89,000 after buying an additional 582 shares during the last quarter. Finally, Axxcess Wealth Management LLC lifted its stake in Robinhood Markets by 3.1% in the third quarter. Axxcess Wealth Management LLC now owns 19,773 shares of the company's stock valued at $463,000 after buying an additional 598 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

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.