Robinhood Markets (NASDAQ:HOOD) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Robinhood Markets (NASDAQ:HOOD) had its target price hoisted by JPMorgan Chase & Co. from $39.00 to $45.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential downside of 27.73% from the company’s current price.

A number of other research analysts have also issued reports on the company. Raymond James began coverage on Robinhood Markets in a research report on Wednesday, February 5th. They set a “market perform” rating for the company. Keefe, Bruyette & Woods increased 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. Sanford C. Bernstein boosted their target price on shares of Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Mizuho raised their price target on shares of Robinhood Markets from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Finally, Needham & Company LLC increased their price objective on Robinhood Markets from $52.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Robinhood Markets has an average rating of “Moderate Buy” and a consensus target price of $57.07.

Robinhood Markets Trading Up 11.4 %

Robinhood Markets stock traded up $6.35 during mid-day trading on Thursday, reaching $62.26. The company’s stock had a trading volume of 45,070,489 shares, compared to its average volume of 22,632,260. Robinhood Markets has a twelve month low of $12.77 and a twelve month high of $66.91. The business has a 50 day moving average price of $44.48 and a 200-day moving average price of $31.90. The firm has a market cap of $55.04 billion, a price-to-earnings ratio of 105.62, a PEG ratio of 0.73 and a beta of 2.13.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data 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 net margin of 21.80% and a return on equity of 7.52%. On average, equities analysts expect that Robinhood Markets will post 0.97 EPS for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In related news, Director Baiju Bhatt sold 186,514 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $38.13, for a total value of $7,111,778.82. Following the completion of the sale, the director now owns 2,521 shares in the company, valued at approximately $96,125.73. This trade represents a 98.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $38.22, for a total value of $477,750.00. Following the transaction, the insider now owns 1,106,955 shares in the company, valued at $42,307,820.10. This represents a 1.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,948,427 shares of company stock valued at $165,005,244 in the last ninety days. Company insiders own 19.95% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

Institutional investors and hedge funds have recently bought and sold shares of the business. CWM LLC lifted its holdings in shares of Robinhood Markets by 66.9% during the 3rd quarter. CWM LLC now owns 38,746 shares of the company’s stock worth $907,000 after acquiring an additional 15,524 shares during the period. Creative Planning increased its stake in Robinhood Markets by 34.6% in the third quarter. Creative Planning now owns 35,384 shares of the company’s stock valued at $829,000 after acquiring an additional 9,094 shares during the period. Vontobel Holding Ltd. raised its position in Robinhood Markets by 32.3% in the third quarter. Vontobel Holding Ltd. now owns 28,125 shares of the company’s stock worth $659,000 after purchasing an additional 6,872 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its stake in Robinhood Markets by 66.7% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 22,737 shares of the company’s stock worth $533,000 after purchasing an additional 9,101 shares during the period. Finally, Harbour Capital Advisors LLC acquired a new stake in Robinhood Markets during the third quarter valued at approximately $851,000. 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.