Morgan Stanley Raises Robinhood Markets (NASDAQ:HOOD) Price Target to $22.00

Robinhood Markets (NASDAQ:HOOD) had its price target increased by Morgan Stanley from $21.00 to $22.00 in a report released on Thursday, Benzinga reports. They currently have an equal weight rating on the stock.

HOOD has been the subject of several other reports. Keefe, Bruyette & Woods lowered their price objective on shares of Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating for the company in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Robinhood Markets from $24.00 to $27.00 and gave the company a “buy” rating in a report on Monday, September 30th. The Goldman Sachs Group lifted their price objective on Robinhood Markets from $22.50 to $25.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Barclays boosted their target price on shares of Robinhood Markets from $20.00 to $23.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Finally, Wolfe Research upgraded shares of Robinhood Markets from a “peer perform” rating to an “outperform” rating and set a $29.00 price objective on the stock in a research note on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Robinhood Markets currently has a consensus rating of “Hold” and a consensus price target of $24.43.

Robinhood Markets Price Performance

HOOD opened at $26.83 on Thursday. The firm has a market capitalization of $23.58 billion, a P/E ratio of 178.87 and a beta of 1.84. Robinhood Markets has a one year low of $7.91 and a one year high of $27.33. The company has a fifty day moving average price of $22.03 and a 200-day moving average price of $20.85.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.05. Robinhood Markets had a net margin of 12.96% and a return on equity of 4.25%. The company had revenue of $682.00 million for the quarter, compared to analysts’ expectations of $640.39 million. During the same period in the prior year, the business earned $0.03 earnings per share. Robinhood Markets’s revenue for the quarter was up 40.3% compared to the same quarter last year. On average, analysts expect that Robinhood Markets will post 0.76 earnings per share for the current year.

Insider Activity

In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $16.05, for a total transaction of $4,012,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Steven M. Quirk sold 208,291 shares of the business’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $24.98, for a total transaction of $5,203,109.18. Following the completion of the transaction, the insider now directly owns 346,020 shares in the company, valued at $8,643,579.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $16.05, for a total value of $4,012,500.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,541,250 shares of company stock worth $107,643,767. 19.95% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Robinhood Markets

Large investors have recently bought and sold shares of the business. Centaurus Financial Inc. purchased a new stake in shares of Robinhood Markets in the fourth quarter valued at approximately $102,000. Wellington Management Group LLP acquired a new position in Robinhood Markets during the fourth quarter worth $8,299,000. PNC Financial Services Group Inc. raised its position in Robinhood Markets by 46.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock worth $29,000 after acquiring an additional 722 shares during the period. Banque Cantonale Vaudoise lifted its holdings in Robinhood Markets by 21,404.0% during the first quarter. Banque Cantonale Vaudoise now owns 96,768 shares of the company’s stock valued at $1,948,000 after purchasing an additional 96,318 shares in the last quarter. Finally, Gulf International Bank UK Ltd increased its stake in shares of Robinhood Markets by 5.3% during the first quarter. Gulf International Bank UK Ltd now owns 63,200 shares of the company’s stock worth $1,272,000 after purchasing an additional 3,200 shares in the last quarter. 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.