Robinhood Markets (NASDAQ:HOOD) Raised to “Overweight” at Morgan Stanley

Robinhood Markets (NASDAQ:HOOD) was upgraded by research analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Monday,Briefing.com Automated Import reports. The firm currently has a $55.00 target price on the stock, up from their prior target price of $24.00. Morgan Stanley’s target price would indicate a potential upside of 50.07% from the company’s previous close.

Several other research analysts also recently weighed in on the stock. JMP Securities upped their price objective on shares of Robinhood Markets from $33.00 to $40.00 and gave the stock a “market outperform” rating in a report on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Robinhood Markets from $27.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Bank of America increased their price objective on Robinhood Markets from $28.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. 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, October 17th. Finally, Barclays increased their price target on Robinhood Markets from $23.00 to $26.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $30.59.

Robinhood Markets Price Performance

Shares of HOOD opened at $36.65 on Monday. Robinhood Markets has a one year low of $8.13 and a one year high of $38.11. The company has a market cap of $32.40 billion, a PE ratio of 62.12, a P/E/G ratio of 0.85 and a beta of 1.84. The stock has a 50-day moving average of $26.96 and a 200-day moving average of $23.00.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The firm had revenue of $637.00 million during the quarter, compared to analyst estimates of $660.53 million. During the same period last year, the business posted ($0.09) EPS. The company’s revenue was up 36.4% on a year-over-year basis. Analysts expect that Robinhood Markets will post 0.74 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Meyer Malka sold 105,875 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $30.00, for a total value of $3,176,250.00. Following the completion of the sale, the director now directly owns 28,930,243 shares in the company, valued at approximately $867,907,290. The trade was a 0.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $19.33, for a total transaction of $241,625.00. Following the completion of the sale, the insider now directly owns 1,045,068 shares of the company’s stock, valued at $20,201,164.44. This represents a 1.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,685,549 shares of company stock worth $114,953,194 in the last three months. 19.95% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Robinhood Markets

Several institutional investors and hedge funds have recently bought and sold shares of HOOD. FMR LLC boosted its stake in shares of Robinhood Markets by 31.3% during the third quarter. FMR LLC now owns 14,129,544 shares of the company’s stock valued at $330,914,000 after purchasing an additional 3,368,118 shares during the period. State Street Corp raised its holdings in Robinhood Markets by 8.7% during the 3rd quarter. State Street Corp now owns 13,558,321 shares of the company’s stock valued at $317,536,000 after buying an additional 1,085,679 shares during the last quarter. Geode Capital Management LLC boosted its position in Robinhood Markets by 19.5% during the 3rd quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company’s stock valued at $271,708,000 after buying an additional 1,895,427 shares during the period. Renaissance Technologies LLC grew its holdings in Robinhood Markets by 37.7% in the 2nd quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company’s stock worth $173,770,000 after acquiring an additional 2,094,800 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Robinhood Markets by 33.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,581,465 shares of the company’s stock worth $107,298,000 after purchasing an additional 1,137,677 shares during the last quarter. 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.