Robinhood Markets (NASDAQ:HOOD) Given New $64.00 Price Target at Morgan Stanley

Robinhood Markets (NASDAQ:HOOD) had its price objective raised by Morgan Stanley from $55.00 to $64.00 in a research report report published on Friday, MarketBeat Ratings reports. The brokerage currently has an overweight rating on the stock.

Several other equities research analysts have also recently commented on the company. Citigroup lifted their target price on Robinhood Markets from $25.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. Piper Sandler lifted their target price on Robinhood Markets from $36.00 to $42.00 and gave the company an “overweight” rating in a research note on Monday, December 2nd. Barclays raised their price target on Robinhood Markets from $49.00 to $54.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. KeyCorp raised their price target on Robinhood Markets from $30.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Robinhood Markets from $36.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Robinhood Markets currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.07.

Robinhood Markets Price Performance

HOOD stock opened at $48.15 on Friday. The business has a fifty day moving average price of $38.63 and a 200 day moving average price of $28.18. Robinhood Markets has a fifty-two week low of $10.38 and a fifty-two week high of $49.27. The stock has a market capitalization of $42.56 billion, a price-to-earnings ratio of 81.61, a P/E/G ratio of 0.58 and a beta of 2.07.

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 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 business had revenue of $637.00 million for the quarter, compared to analyst estimates of $660.53 million. During the same period in the prior year, the business earned ($0.09) earnings per share. The company’s revenue for the quarter was up 36.4% on a year-over-year basis. On average, equities analysts expect that Robinhood Markets will post 0.91 earnings per share for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In related news, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $24.21, for a total value of $6,052,500.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Baiju Bhatt sold 108,964 shares of Robinhood Markets stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $24.92, for a total value of $2,715,382.88. Following the completion of the sale, the director now directly owns 2,521 shares in the company, valued at approximately $62,823.32. This represents a 97.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,700,658 shares of company stock valued at $140,360,682 in the last 90 days. 19.95% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Robinhood Markets

A number of institutional investors have recently bought and sold shares of the business. Janney Montgomery Scott LLC increased its position in Robinhood Markets by 88.4% during the fourth quarter. Janney Montgomery Scott LLC now owns 24,825 shares of the company’s stock worth $925,000 after buying an additional 11,650 shares during the last quarter. SG Americas Securities LLC increased its position in Robinhood Markets by 67.2% during the fourth quarter. SG Americas Securities LLC now owns 60,118 shares of the company’s stock worth $2,240,000 after buying an additional 24,161 shares during the last quarter. Evolution Wealth Advisors LLC acquired a new position in Robinhood Markets during the fourth quarter worth approximately $242,000. Atomi Financial Group Inc. increased its position in Robinhood Markets by 20.7% during the fourth quarter. Atomi Financial Group Inc. now owns 540,910 shares of the company’s stock worth $20,154,000 after buying an additional 92,613 shares during the last quarter. Finally, Perpetual Ltd acquired a new position in Robinhood Markets during the fourth quarter worth approximately $1,139,000. Institutional investors and hedge funds 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.