Robinhood Markets (NASDAQ:HOOD) Stock Price Expected to Rise, JMP Securities Analyst Says

Robinhood Markets (NASDAQ:HOOD) had its price target increased by equities researchers at JMP Securities from $60.00 to $77.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “market outperform” rating on the stock. JMP Securities’ price target would suggest a potential upside of 17.95% from the stock’s current price.

A number of other brokerages also recently weighed in on HOOD. KeyCorp boosted their price target on Robinhood Markets from $50.00 to $57.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Raymond James began coverage on Robinhood Markets in a research report on Wednesday, February 5th. They set a “market perform” rating for the company. The Goldman Sachs Group upgraded Robinhood Markets from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $40.00 to $46.00 in a research report on Friday, December 6th. JPMorgan Chase & Co. upgraded Robinhood Markets from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $20.00 to $43.00 in a research report on Tuesday, January 7th. Finally, Sanford C. Bernstein boosted their price objective on Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $58.07.

Robinhood Markets Trading Up 2.3 %

Shares of NASDAQ HOOD opened at $65.28 on Thursday. Robinhood Markets has a twelve month low of $13.04 and a twelve month high of $66.91. The company has a market capitalization of $57.71 billion, a price-to-earnings ratio of 110.65, a price-to-earnings-growth ratio of 0.73 and a beta of 2.13. The business has a 50 day simple moving average of $45.45 and a 200-day simple moving average of $32.43.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. As a group, equities analysts predict that Robinhood Markets will post 0.97 earnings per share for the current year.

Insider Activity at Robinhood Markets

In other news, CEO Vladimir Tenev sold 750,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $39.16, for a total transaction of $29,370,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Daniel Martin Gallagher, Jr. sold 300,000 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $37.51, for a total value of $11,253,000.00. Following the sale, the insider now directly owns 806,955 shares of the company’s stock, valued at approximately $30,268,882.05. This represents a 27.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,948,427 shares of company stock valued at $165,005,244 over the last 90 days. 19.95% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Robinhood Markets

Hedge funds have recently modified their holdings of the stock. New Wave Wealth Advisors LLC purchased a new stake in shares of Robinhood Markets during the fourth quarter valued at $26,000. HM Payson & Co. lifted its holdings in shares of Robinhood Markets by 53.5% during the third 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. Eastern Bank purchased a new stake in shares of Robinhood Markets during the third quarter valued at $30,000. True Wealth Design LLC purchased a new stake in shares of Robinhood Markets during the third quarter valued at $30,000. Finally, Creative Financial Designs Inc. ADV lifted its holdings in shares of Robinhood Markets by 750.0% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock valued at $32,000 after purchasing an additional 750 shares during the last quarter. 93.27% of the stock is owned by hedge funds and other 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.