Morgan Stanley Issues Positive Forecast for Robinhood Markets (NASDAQ:HOOD) Stock Price

Robinhood Markets (NASDAQ:HOOD - Get Free Report) had its target price lifted by stock analysts at Morgan Stanley from $55.00 to $64.00 in a research report issued on Friday,Briefing.com Automated Import reports. The brokerage presently has an "overweight" rating on the stock. Morgan Stanley's price objective suggests a potential upside of 32.92% from the company's current price.

Other analysts have also issued research reports about the company. Barclays upped their price objective on Robinhood Markets from $49.00 to $54.00 and gave the company an "overweight" rating in a report on Monday. Citigroup upped their price target on shares of Robinhood Markets from $25.00 to $45.00 and gave the company a "neutral" rating in a report on Friday, January 10th. Keefe, Bruyette & Woods lifted their price objective on shares of Robinhood Markets from $24.00 to $38.00 and gave the stock a "market perform" rating in a research note on Friday, December 20th. Sanford C. Bernstein boosted their target price on shares of Robinhood Markets from $30.00 to $51.00 and gave the stock an "outperform" rating in a report on Wednesday, November 20th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Robinhood Markets from $36.00 to $42.00 and gave the stock a "buy" rating in a report on Thursday, December 5th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $43.07.

Robinhood Markets Stock Up 4.5 %

Robinhood Markets stock traded up $2.07 during trading hours on Friday, hitting $48.15. 33,770,605 shares of the company traded hands, compared to its average volume of 21,263,281. Robinhood Markets has a 1-year low of $10.38 and a 1-year high of $49.27. The firm has a market cap of $42.56 billion, a P/E ratio of 81.61, a P/E/G ratio of 0.58 and a beta of 2.07. The firm's 50-day simple moving average is $38.28 and its two-hundred day simple moving average is $28.00.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $637.00 million for the quarter, compared to analyst estimates of $660.53 million. During the same quarter in the prior year, the business earned ($0.09) EPS. Robinhood Markets's revenue was up 36.4% compared to the same quarter last year. On average, equities research analysts predict that Robinhood Markets will post 0.91 earnings per share for the current year.

Insider Buying and Selling at Robinhood Markets

In related news, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $42.64, for a total value of $250,552.64. Following the transaction, the chief technology officer now owns 5,876 shares in the company, valued at approximately $250,552.64. This represents a 50.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $24.21, for a total transaction of $6,052,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 3,609,792 shares of company stock valued at $136,247,178 in the last 90 days. 19.95% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Robinhood Markets

Hedge funds have recently bought and sold shares of the business. HM Payson & Co. boosted its stake in shares of Robinhood Markets by 53.5% during the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company's stock worth $28,000 after acquiring an additional 410 shares in the last quarter. True Wealth Design LLC bought a new stake in Robinhood Markets during the third quarter worth approximately $30,000. Eastern Bank acquired a new position in Robinhood Markets during the third quarter valued at approximately $30,000. ORG Wealth Partners LLC acquired a new position in Robinhood Markets during the third quarter valued at approximately $33,000. Finally, Connective Portfolio Management LLC bought a new position in shares of Robinhood Markets in the third quarter valued at approximately $47,000. 93.27% of the stock is 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.

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