Robinhood Markets (NASDAQ:HOOD) Upgraded at Morgan Stanley

Robinhood Markets (NASDAQ:HOOD) was upgraded by analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research report issued on Monday,Briefing.com Automated Import reports. The firm presently has a $55.00 target price on the stock, up from their prior target price of $24.00. Morgan Stanley’s target price indicates a potential upside of 50.07% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Sanford C. Bernstein raised 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. Keefe, Bruyette & Woods reduced their price objective on Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating for the company in a research note on Thursday, August 8th. The Goldman Sachs Group lowered their target price on Robinhood Markets from $25.00 to $22.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. JMP Securities upped their price target on Robinhood Markets from $33.00 to $40.00 and gave the stock a “market outperform” rating in a research report on Tuesday, November 12th. Finally, Piper Sandler lifted their price objective on Robinhood Markets from $30.00 to $36.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $30.59.

Robinhood Markets Price Performance

Shares of HOOD opened at $36.65 on Monday. Robinhood Markets has a one year low of $8.13 and a one year high of $38.11. The company has a 50-day simple moving average of $26.96 and a two-hundred day simple moving average of $23.00. The firm has a market capitalization of $32.40 billion, a PE ratio of 62.12, a price-to-earnings-growth ratio of 0.85 and a beta of 1.84.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share 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. The company’s revenue for the quarter was up 36.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.09) earnings per share. Analysts expect that Robinhood Markets will post 0.74 EPS for the current fiscal year.

Insider Transactions at Robinhood Markets

In related news, Director Baiju Bhatt sold 139,916 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $19.55, for a total value of $2,735,357.80. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 1,045,068 shares of the company’s stock, valued at approximately $20,201,164.44. This trade represents a 1.18 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,685,549 shares of company stock valued at $114,953,194. Company insiders own 19.95% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. HM Payson & Co. boosted its holdings 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 purchasing an additional 410 shares during the last quarter. Eastern Bank acquired a new stake in shares of Robinhood Markets during the third quarter worth about $30,000. True Wealth Design LLC acquired a new stake in Robinhood Markets during the 3rd quarter worth approximately $30,000. ORG Partners LLC purchased a new position in Robinhood Markets in the second quarter valued at $33,000. Finally, ORG Wealth Partners LLC purchased a new position in shares of Robinhood Markets in the 3rd quarter valued at about $33,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

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.