Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $24.00 at Morgan Stanley

Robinhood Markets (NASDAQ:HOOD) had its price target hoisted by investment analysts at Morgan Stanley from $22.00 to $24.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would suggest a potential downside of 27.27% from the stock’s current price.

Other equities analysts also recently issued reports about the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Robinhood Markets in a report on Thursday, October 31st. The Goldman Sachs Group decreased their price target on shares of Robinhood Markets from $25.00 to $22.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft lifted their price objective on Robinhood Markets from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Monday, September 30th. JMP Securities increased their target price on Robinhood Markets from $30.00 to $33.00 and gave the company a “market outperform” rating in a report on Thursday, October 31st. Finally, Citigroup lifted their price target on Robinhood Markets from $19.00 to $23.00 and gave the stock a “neutral” rating in a research note on Friday, September 27th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Robinhood Markets has a consensus rating of “Hold” and a consensus price target of $26.10.

Robinhood Markets Stock Up 0.6 %

Shares of Robinhood Markets stock opened at $33.00 on Monday. The firm has a market cap of $29.17 billion, a PE ratio of 55.59, a P/E/G ratio of 0.73 and a beta of 1.84. Robinhood Markets has a twelve month low of $7.91 and a twelve month high of $34.32. The business has a 50-day moving average price of $24.42 and a 200 day moving average price of $21.94.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.01). Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The business had revenue of $637.00 million for the quarter, compared to analyst estimates of $660.53 million. During the same period in the previous year, the company earned ($0.09) earnings per share. The company’s quarterly revenue was up 36.4% compared to the same quarter last year. On average, sell-side analysts expect that Robinhood Markets will post 0.71 EPS for the current year.

Insider Buying and Selling

In other Robinhood Markets news, Director Meyer Malka sold 3,225,806 shares of the business’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $25.07, for a total value of $80,870,956.42. Following the transaction, the director now directly owns 29,357,336 shares in the company, valued at $735,988,413.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO Jason Warnick sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $20.96, for a total value of $524,000.00. Following the sale, the chief financial officer now directly owns 1,077,162 shares of the company’s stock, valued at approximately $22,577,315.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Meyer Malka sold 3,225,806 shares of the business’s stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $25.07, for a total value of $80,870,956.42. Following the completion of the sale, the director now directly owns 29,357,336 shares in the company, valued at approximately $735,988,413.52. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,710,549 shares of company stock worth $115,477,194. Insiders own 19.95% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Robinhood Markets by 1.8% during the first quarter. Vanguard Group Inc. now owns 56,828,633 shares of the company’s stock worth $1,143,960,000 after purchasing an additional 1,003,535 shares in the last quarter. Baker Avenue Asset Management LP lifted its holdings in Robinhood Markets by 77.9% during the 3rd 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. UniSuper Management Pty Ltd boosted its position in Robinhood Markets by 87.1% in the 1st quarter. UniSuper Management Pty Ltd now owns 5,800 shares of the company’s stock valued at $117,000 after buying an additional 2,700 shares during the period. Robeco Institutional Asset Management B.V. grew its stake in shares of Robinhood Markets by 146.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,161,240 shares of the company’s stock worth $27,196,000 after acquiring an additional 690,467 shares in the last quarter. Finally, O Neil Global Advisors Inc. purchased a new stake in shares of Robinhood Markets during the second quarter worth $2,298,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

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.