Robinhood Markets (NASDAQ:HOOD) Stock Rating Upgraded by JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Robinhood Markets (NASDAQ:HOOD) from an underweight rating to a neutral rating in a report issued on Tuesday morning, Marketbeat.com reports. The brokerage currently has $43.00 price target on the stock, up from their prior price target of $20.00.

HOOD has been the topic of several other reports. KeyCorp raised their target price on Robinhood Markets from $30.00 to $47.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Morgan Stanley upgraded Robinhood Markets from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $24.00 to $55.00 in a report on Monday, November 25th. 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. JMP Securities lifted their price target on shares of Robinhood Markets from $33.00 to $40.00 and gave the company a “market outperform” rating in a research report on Tuesday, November 12th. Finally, Piper Sandler upped their price objective on shares of Robinhood Markets from $36.00 to $42.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $40.67.

Robinhood Markets Stock Performance

Shares of NASDAQ HOOD opened at $40.56 on Tuesday. The stock has a market cap of $35.85 billion, a price-to-earnings ratio of 68.75, a PEG ratio of 0.81 and a beta of 2.07. The business has a 50 day simple moving average of $36.07 and a 200 day simple moving average of $27.10. Robinhood Markets has a 52 week low of $10.38 and a 52 week high of $43.83.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). The business had revenue of $637.00 million during the quarter, compared to the consensus estimate of $660.53 million. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The business’s revenue was up 36.4% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.09) earnings per share. On average, analysts predict that Robinhood Markets will post 0.8 EPS for the current year.

Insider Buying and Selling

In other news, insider Steven M. Quirk sold 19,861 shares of the firm’s stock in a transaction dated Sunday, December 1st. The shares were sold at an average price of $37.54, for a total transaction of $745,581.94. Following the completion of the transaction, the insider now directly owns 395,166 shares of the company’s stock, valued at approximately $14,834,531.64. This trade represents a 4.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 100,000 shares of Robinhood Markets stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $40.45, for a total transaction of $4,045,000.00. Following the sale, the insider now owns 731,642 shares in the company, valued at approximately $29,594,918.90. This trade represents a 12.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,702,320 shares of company stock valued at $138,594,491 over the last three months. 19.95% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HOOD. HM Payson & Co. raised its holdings in shares of Robinhood Markets by 53.5% in the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock worth $28,000 after buying an additional 410 shares in the last quarter. Commerce Bank grew its position in Robinhood Markets by 3.3% in the third quarter. Commerce Bank now owns 13,245 shares of the company’s stock valued at $310,000 after acquiring an additional 423 shares during the period. Signaturefd LLC raised its stake in Robinhood Markets by 16.5% during the third quarter. Signaturefd LLC now owns 3,437 shares of the company’s stock worth $80,000 after acquiring an additional 487 shares in the last quarter. Castleview Partners LLC lifted its holdings in shares of Robinhood Markets by 18.2% during the third quarter. Castleview Partners LLC now owns 3,788 shares of the company’s stock valued at $89,000 after acquiring an additional 582 shares during the period. Finally, Axxcess Wealth Management LLC lifted its holdings in shares of Robinhood Markets by 3.1% during the third quarter. Axxcess Wealth Management LLC now owns 19,773 shares of the company’s stock valued at $463,000 after acquiring an additional 598 shares during the period. 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.