Robinhood Markets (NASDAQ:HOOD) Given New $24.00 Price Target at Morgan Stanley

Robinhood Markets (NASDAQ:HOOD) had its price target raised by Morgan Stanley from $22.00 to $24.00 in a research note published on Monday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

A number of other research firms have also recently issued reports on HOOD. KeyCorp lifted their price target on Robinhood Markets from $25.00 to $30.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Citigroup lifted their price objective on Robinhood Markets from $19.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, September 27th. The Goldman Sachs Group lowered their price objective on Robinhood Markets from $25.00 to $22.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. JMP Securities lifted their price objective on Robinhood Markets from $30.00 to $33.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 31st. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Robinhood Markets in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $25.63.

Robinhood Markets Stock Up 7.4 %

Robinhood Markets stock opened at $32.80 on Monday. The stock has a 50-day simple moving average of $24.42 and a 200 day simple moving average of $21.94. Robinhood Markets has a 12-month low of $7.91 and a 12-month high of $34.32. The stock has a market capitalization of $28.99 billion, a price-to-earnings ratio of 55.59, a P/E/G ratio of 0.73 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 (EPS) 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 during the quarter, compared to the consensus estimate of $660.53 million. During the same period in the prior year, the firm earned ($0.09) earnings per share. The business’s quarterly revenue was up 36.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Robinhood Markets will post 0.71 EPS for the current year.

Insider Activity at Robinhood Markets

In related news, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $19.26, for a total value of $4,815,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $19.26, for a total value of $4,815,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Baiju Bhatt sold 143,944 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $18.73, for a total value of $2,696,071.12. The disclosure for this sale can be found here. In the last three months, insiders sold 4,854,493 shares of company stock worth $118,173,265. 19.95% of the stock is owned by company insiders.

Institutional Investors Weigh In On Robinhood Markets

Institutional investors have recently bought and sold shares of the company. HM Payson & Co. raised its stake 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 in the last quarter. Eastern Bank bought a new stake in shares of Robinhood Markets during the 3rd quarter worth approximately $30,000. ORG Partners LLC bought a new stake in shares of Robinhood Markets during the 2nd quarter worth approximately $33,000. ORG Wealth Partners LLC bought a new stake in shares of Robinhood Markets during the 3rd quarter worth approximately $33,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of Robinhood Markets during the 1st quarter worth approximately $34,000. 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.