Morgan Stanley Issues Positive Forecast for Robinhood Markets (NASDAQ:HOOD) Stock Price

Robinhood Markets (NASDAQ:HOOD) had its price target increased by equities research analysts at Morgan Stanley from $64.00 to $90.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s price objective would suggest a potential upside of 60.97% from the stock’s current price.

HOOD has been the topic of a number of other research reports. Piper Sandler lifted their price objective on Robinhood Markets from $36.00 to $42.00 and gave the stock an “overweight” rating in a research report on Monday, December 2nd. Needham & Company LLC reiterated a “buy” rating and set a $52.00 price target (up previously from $40.00) on shares of Robinhood Markets in a report on Monday, December 9th. Keefe, Bruyette & Woods boosted their price target on shares of Robinhood Markets from $24.00 to $38.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. Raymond James assumed coverage on shares of Robinhood Markets in a research report on Wednesday, February 5th. They set a “market perform” rating for the company. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $48.40.

Robinhood Markets Stock Up 4.8 %

Shares of NASDAQ HOOD opened at $55.91 on Thursday. The firm has a 50-day simple moving average of $44.48 and a 200-day simple moving average of $31.90. The stock has a market capitalization of $49.42 billion, a price-to-earnings ratio of 94.76, a price-to-earnings-growth ratio of 0.73 and a beta of 2.13. Robinhood Markets has a 52 week low of $11.43 and a 52 week high of $57.27.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data 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 research analysts expect that Robinhood Markets will post 0.97 EPS for the current year.

Insiders Place Their Bets

In other news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $51.60, for a total value of $1,290,000.00. Following the completion of the transaction, the insider now owns 706,642 shares of the company’s stock, valued at approximately $36,462,727.20. This trade represents a 3.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Baiju Bhatt sold 90,866 shares of Robinhood Markets stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $55.34, for a total transaction of $5,028,524.44. Following the completion of the transaction, the director now owns 5,042 shares of the company’s stock, valued at $279,024.28. This trade represents a 94.74 % 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 ninety days. Corporate insiders own 19.95% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Toronto Dominion Bank raised its stake in shares of Robinhood Markets by 31.1% in the third quarter. Toronto Dominion Bank now owns 68,408 shares of the company’s stock valued at $1,602,000 after acquiring an additional 16,219 shares in the last quarter. Everence Capital Management Inc. purchased a new stake in Robinhood Markets during the 4th quarter worth about $634,000. Atomi Financial Group Inc. raised its position in Robinhood Markets by 20.7% in the 4th quarter. Atomi Financial Group Inc. now owns 540,910 shares of the company’s stock valued at $20,154,000 after purchasing an additional 92,613 shares in the last quarter. Requisite Capital Management LLC purchased a new position in shares of Robinhood Markets in the 4th quarter valued at about $266,000. Finally, Baker Avenue Asset Management LP grew its position in shares of Robinhood Markets by 77.9% during the third quarter. Baker Avenue Asset Management LP now owns 464,306 shares of the company’s stock worth $10,874,000 after buying an additional 203,354 shares in the last quarter. Hedge funds and other 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.