Robinhood Markets (NASDAQ:HOOD) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Robinhood Markets (NASDAQ:HOOD - Get Free Report) had its price target lifted by Morgan Stanley from $22.00 to $24.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Morgan Stanley's price target indicates a potential downside of 27.03% from the company's current price.

HOOD has been the subject of a number of other research reports. The Goldman Sachs Group reduced their price objective on Robinhood Markets from $25.00 to $22.00 and set a "neutral" rating for the company in a research report on Friday, November 1st. Citigroup lifted 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. JMP Securities lifted their target price on Robinhood Markets from $30.00 to $33.00 and gave the company a "market outperform" rating in a research report on Thursday, October 31st. Bank of America boosted their price objective on Robinhood Markets from $28.00 to $32.00 and gave the company a "buy" rating in a research report on Monday, August 12th. Finally, KeyCorp boosted their target price on Robinhood Markets from $25.00 to $30.00 and gave the stock an "overweight" rating in a research report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, Robinhood Markets currently has a consensus rating of "Hold" and a consensus target price of $25.63.

Robinhood Markets Trading Up 7.7 %

Robinhood Markets stock traded up $2.35 during midday trading on Monday, reaching $32.89. The company's stock had a trading volume of 38,832,805 shares, compared to its average volume of 15,892,592. The business has a 50-day moving average price of $24.17 and a 200-day moving average price of $21.83. Robinhood Markets has a 52 week low of $7.91 and a 52 week high of $34.32. The stock has a market cap of $29.07 billion, a PE ratio of 57.95, a price-to-earnings-growth ratio of 0.73 and a beta of 1.84.

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

Insider Activity at Robinhood Markets

In other news, Director Meyer Malka sold 105,875 shares of the business'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 sale, the director now directly owns 28,930,243 shares in the company, valued at $867,907,290. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Meyer Malka sold 105,875 shares of the stock in a transaction on 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 completion of the transaction, the director now directly owns 28,930,243 shares in the company, valued at approximately $867,907,290. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the stock in a transaction on Tuesday, September 3rd. The shares were 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 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,854,493 shares of company stock worth $118,173,265. Company insiders own 19.95% of the company's stock.

Institutional Trading of Robinhood Markets

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in Robinhood Markets by 1.8% in the first quarter. Vanguard Group Inc. now owns 56,828,633 shares of the company's stock worth $1,143,960,000 after purchasing an additional 1,003,535 shares during the period. Renaissance Technologies LLC raised its position in Robinhood Markets by 37.7% in the second quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company's stock worth $173,770,000 after acquiring an additional 2,094,800 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Robinhood Markets by 2.9% in the second quarter. Dimensional Fund Advisors LP now owns 4,075,468 shares of the company's stock worth $92,549,000 after purchasing an additional 112,967 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Robinhood Markets by 1,211,858.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,817,670 shares of the company's stock valued at $89,410,000 after acquiring an additional 3,817,355 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Robinhood Markets by 8.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,410,791 shares of the company's stock worth $54,749,000 after buying an additional 193,585 shares in the last quarter. 93.27% of the stock is owned by 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.