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

Robinhood Markets (NASDAQ:HOOD - Free Report) had its target price increased by Morgan Stanley from $55.00 to $64.00 in a research note published on Friday morning, MarketBeat reports. The brokerage currently has an overweight rating on the stock.

HOOD has been the topic of a number of other reports. JPMorgan Chase & Co. upgraded Robinhood Markets from an "underweight" rating to a "neutral" rating and lifted their target price for the stock from $20.00 to $43.00 in a research note on Tuesday, January 7th. Needham & Company LLC reissued a "buy" rating and issued a $52.00 price objective (up previously from $40.00) on shares of Robinhood Markets in a report on Monday, December 9th. Barclays upped their price objective on shares of Robinhood Markets from $49.00 to $54.00 and gave the company an "overweight" rating in a report on Monday, January 13th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Robinhood Markets from $36.00 to $42.00 and gave the company a "buy" rating in a research report on Thursday, December 5th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Robinhood Markets from $24.00 to $38.00 and gave the stock a "market perform" rating in a report on Friday, December 20th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Robinhood Markets presently has an average rating of "Moderate Buy" and a consensus price target of $43.07.

Robinhood Markets Stock Performance

HOOD traded up $2.07 during mid-day trading on Friday, reaching $48.15. 35,128,062 shares of the stock were exchanged, compared to its average volume of 17,235,492. The company has a 50 day moving average price of $38.63 and a two-hundred day moving average price of $28.18. The stock has a market capitalization of $42.56 billion, a PE ratio of 81.61, a price-to-earnings-growth ratio of 0.58 and a beta of 2.07. Robinhood Markets has a 1 year low of $10.38 and a 1 year high of $49.27.

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 the consensus estimate of $0.18 by ($0.01). The firm had revenue of $637.00 million during 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 quarterly revenue was up 36.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.09) EPS. Sell-side analysts expect that Robinhood Markets will post 0.91 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $42.64, for a total transaction of $250,552.64. Following the transaction, the chief technology officer now owns 5,876 shares of the company's stock, valued at approximately $250,552.64. This trade represents a 50.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Baiju Bhatt sold 90,866 shares of the business's stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $45.27, for a total transaction of $4,113,503.82. Following the completion of the sale, the director now directly owns 5,042 shares of the company's stock, valued at $228,251.34. This represents a 94.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,700,658 shares of company stock valued at $140,360,682 in the last quarter. Corporate insiders own 19.95% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of HOOD. American Century Companies Inc. purchased a new position in shares of Robinhood Markets in the second quarter worth $486,000. DekaBank Deutsche Girozentrale boosted its holdings in shares of Robinhood Markets by 110.6% during the second quarter. DekaBank Deutsche Girozentrale now owns 49,260 shares of the company's stock worth $1,117,000 after purchasing an additional 25,875 shares during the period. Dimensional Fund Advisors LP grew 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 during the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in Robinhood Markets by 21.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 27,071 shares of the company's stock valued at $615,000 after purchasing an additional 4,843 shares during the period. Finally, Elo Mutual Pension Insurance Co lifted its holdings in Robinhood Markets by 24.1% in the 2nd quarter. Elo Mutual Pension Insurance Co now owns 46,035 shares of the company's stock worth $1,045,000 after buying an additional 8,930 shares during the period. Hedge funds and other institutional investors own 93.27% of the company's stock.

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.