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

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

Several other brokerages have also recently issued reports on HOOD. Keefe, Bruyette & Woods cut their target price on Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating on the stock in a research report on Thursday, August 8th. Wolfe Research raised Robinhood Markets from a “peer perform” rating to an “outperform” rating and set a $29.00 target price on the stock in a research report on Wednesday, June 26th. JPMorgan Chase & Co. lifted their target price on Robinhood Markets from $17.00 to $21.00 and gave the company an “underweight” rating in a research report on Thursday. Needham & Company LLC reissued a “hold” rating on shares of Robinhood Markets in a research report on Thursday, August 8th. Finally, KeyCorp boosted their price objective on Robinhood Markets from $23.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $24.43.

Robinhood Markets Stock Performance

Shares of Robinhood Markets stock opened at $26.32 on Thursday. Robinhood Markets has a 52 week low of $7.91 and a 52 week high of $27.33. The stock has a 50 day moving average price of $21.86 and a two-hundred day moving average price of $20.77. The stock has a market capitalization of $23.13 billion, a PE ratio of 175.47 and a beta of 1.84.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, August 7th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.05. The company had revenue of $682.00 million for the quarter, compared to analysts’ expectations of $640.39 million. Robinhood Markets had a return on equity of 4.25% and a net margin of 12.96%. Robinhood Markets’s quarterly revenue was up 40.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.03 earnings per share. Research analysts forecast that Robinhood Markets will post 0.76 EPS for the current year.

Insider Activity

In related news, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $16.05, for a total transaction of $4,012,500.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Steven M. Quirk sold 208,291 shares of the stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $24.98, for a total transaction of $5,203,109.18. Following the sale, the insider now owns 346,020 shares of the company’s stock, valued at approximately $8,643,579.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction dated Monday, August 5th. The stock was 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. Insiders have sold 4,541,250 shares of company stock valued at $107,643,767 in the last 90 days. Insiders own 19.95% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

Institutional investors have recently added to or reduced their stakes in the business. ORG Wealth Partners LLC bought a new position in Robinhood Markets in the 3rd quarter worth about $33,000. ORG Partners LLC bought a new position in Robinhood Markets in the 2nd quarter worth about $33,000. Allspring Global Investments Holdings LLC bought a new position in Robinhood Markets in the 1st quarter worth about $34,000. International Assets Investment Management LLC bought a new position in Robinhood Markets in the 2nd quarter worth about $40,000. Finally, Opal Wealth Advisors LLC bought a new position in shares of Robinhood Markets during the 2nd quarter valued at about $45,000. 93.27% of the stock is currently owned by institutional investors.

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.