Morgan Stanley Forecasts Strong Price Appreciation for Robinhood Markets (NASDAQ:HOOD) Stock

Robinhood Markets (NASDAQ:HOOD) had its target price increased by Morgan Stanley from $64.00 to $90.00 in a research report released on Thursday,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other research analysts also recently weighed in on HOOD. Raymond James initiated coverage on Robinhood Markets in a research note on Wednesday, February 5th. They set a “market perform” rating on the stock. Barclays boosted their price target on Robinhood Markets from $49.00 to $54.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. KeyCorp increased their price objective on shares of Robinhood Markets from $50.00 to $57.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Sanford C. Bernstein boosted their target price on shares of Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Finally, Keefe, Bruyette & Woods raised their price target 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. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Robinhood Markets currently has an average rating of “Moderate Buy” and an average target price of $58.07.

Robinhood Markets Stock Performance

HOOD stock opened at $63.80 on Thursday. Robinhood Markets has a one year low of $12.77 and a one year high of $66.91. The firm has a market cap of $56.40 billion, a price-to-earnings ratio of 108.14, a PEG ratio of 0.73 and a beta of 2.13. The firm has a 50-day simple moving average of $44.98 and a two-hundred day simple moving average of $32.13.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, February 12th. The company reported $0.54 EPS 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%. As a group, equities analysts predict that Robinhood Markets will post 0.97 earnings per share for the current fiscal year.

Insider Transactions at Robinhood Markets

In related news, Director Baiju Bhatt sold 90,866 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $55.34, for a total value of $5,028,524.44. Following the completion of the transaction, the director now directly owns 5,042 shares in the company, valued at $279,024.28. The trade was a 94.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Steven M. Quirk sold 19,861 shares of the firm’s stock in a transaction on Sunday, December 1st. The shares were sold at an average price of $37.54, for a total transaction of $745,581.94. Following the sale, the insider now owns 395,166 shares in the company, valued at approximately $14,834,531.64. This represents a 4.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,948,427 shares of company stock worth $165,005,244 over the last quarter. 19.95% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Robinhood Markets

Several institutional investors and hedge funds have recently modified their holdings of HOOD. New Wave Wealth Advisors LLC acquired a new stake in Robinhood Markets in the fourth quarter valued at approximately $26,000. HM Payson & Co. lifted its position 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 valued at $28,000 after buying an additional 410 shares in the last quarter. Eastern Bank acquired a new stake in Robinhood Markets in the 3rd quarter valued at $30,000. True Wealth Design LLC acquired a new stake in Robinhood Markets in the 3rd quarter valued at $30,000. Finally, Creative Financial Designs Inc. ADV increased its holdings in Robinhood Markets by 750.0% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock worth $32,000 after acquiring an additional 750 shares in the last quarter. 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.