Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $90.00

Robinhood Markets (NASDAQ:HOOD) had its target price upped by Morgan Stanley from $64.00 to $90.00 in a report released on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other equities research analysts have also commented on the stock. Raymond James assumed coverage on shares of Robinhood Markets in a report on Wednesday, February 5th. They set a “market perform” rating on the stock. The Goldman Sachs Group upgraded shares of Robinhood Markets from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $40.00 to $46.00 in a research report on Friday, December 6th. Keefe, Bruyette & Woods boosted their target price on Robinhood Markets from $24.00 to $38.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. JMP Securities raised their price target on Robinhood Markets from $33.00 to $40.00 and gave the company a “market outperform” rating in a report on Tuesday, November 12th. Finally, Piper Sandler boosted their price objective on Robinhood Markets from $36.00 to $42.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $58.07.

Robinhood Markets Trading Up 2.3 %

Shares of Robinhood Markets stock opened at $65.28 on Thursday. The stock has a market capitalization of $57.71 billion, a price-to-earnings ratio of 110.65, a P/E/G ratio of 0.73 and a beta of 2.13. The firm’s 50-day moving average price is $45.45 and its two-hundred day moving average price is $32.52. Robinhood Markets has a 1-year low of $13.04 and a 1-year high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. As a group, equities research analysts predict that Robinhood Markets will post 0.97 EPS for the current year.

Insider Buying and Selling

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $37.92, for a total transaction of $222,817.92. Following the sale, the chief technology officer now directly owns 11,752 shares in the company, valued at approximately $445,635.84. This trade represents a 33.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Daniel Martin Gallagher, Jr. sold 300,000 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $37.51, for a total transaction of $11,253,000.00. Following the completion of the transaction, the insider now owns 806,955 shares of the company’s stock, valued at $30,268,882.05. This trade represents a 27.10 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,948,427 shares of company stock valued at $165,005,244. 19.95% of the stock is owned by company insiders.

Institutional Trading of Robinhood Markets

Institutional investors have recently modified their holdings of the company. New Wave Wealth Advisors LLC bought a new position in shares of Robinhood Markets during the fourth quarter worth about $26,000. HM Payson & Co. grew its stake in shares of Robinhood Markets by 53.5% during the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock worth $28,000 after acquiring an additional 410 shares in the last quarter. Eastern Bank acquired a new stake in shares of Robinhood Markets in the third quarter valued at approximately $30,000. True Wealth Design LLC bought a new stake in shares of Robinhood Markets in the third quarter worth $30,000. Finally, Creative Financial Designs Inc. ADV boosted its holdings in Robinhood Markets by 750.0% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock worth $32,000 after purchasing an additional 750 shares during the last quarter. 93.27% of the stock is currently owned by 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.