Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $33.00 at JMP Securities

Robinhood Markets (NASDAQ:HOOD) had its price objective hoisted by JMP Securities from $30.00 to $33.00 in a research note published on Thursday, Benzinga reports. They currently have a market outperform rating on the stock.

Several other equities research analysts also recently commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of Robinhood Markets from $17.00 to $21.00 and gave the stock an “underweight” rating in a research report on Thursday, October 17th. Morgan Stanley lifted their price objective on shares of Robinhood Markets from $21.00 to $22.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Citigroup increased their target price on shares of Robinhood Markets from $19.00 to $23.00 and gave the company a “neutral” rating in a report on Friday, September 27th. Barclays raised their price target on shares of Robinhood Markets from $23.00 to $26.00 and gave the company an “equal weight” rating in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Robinhood Markets from $24.00 to $27.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $25.37.

Robinhood Markets Stock Up 0.3 %

Shares of HOOD stock traded up $0.07 on Thursday, reaching $23.56. The stock had a trading volume of 11,304,547 shares, compared to its average volume of 15,520,659. Robinhood Markets has a 12 month low of $7.91 and a 12 month high of $28.58. The firm’s 50-day moving average is $23.39 and its two-hundred day moving average is $21.35. The firm has a market capitalization of $20.84 billion, a price-to-earnings ratio of 40.14 and a beta of 1.84.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The company 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 7.61% and a net margin of 21.80%. The firm’s revenue for the quarter was up 36.4% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.09) EPS. On average, sell-side analysts forecast that Robinhood Markets will post 0.74 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of Robinhood Markets stock in a transaction dated 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 transaction, the insider now owns 1,045,068 shares of the company’s stock, valued at $20,201,164.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of Robinhood Markets 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 owns 1,045,068 shares of the company’s stock, valued at approximately $20,201,164.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Baiju Bhatt sold 98,404 shares of the company’s stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $26.40, for a total value of $2,597,865.60. Following the completion of the transaction, the director now owns 2,521 shares in the company, valued at $66,554.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,639,654 shares of company stock valued at $110,241,632. Corporate insiders own 19.95% of the company’s stock.

Institutional Trading of Robinhood Markets

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. HM Payson & Co. grew its position 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 during the period. PNC Financial Services Group Inc. increased its holdings in Robinhood Markets by 46.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock valued at $29,000 after buying an additional 722 shares during the last quarter. Eastern Bank purchased a new position in Robinhood Markets during the third quarter valued at $30,000. ORG Partners LLC bought a new stake in shares of Robinhood Markets during the 2nd quarter valued at $33,000. Finally, ORG Wealth Partners LLC bought a new position in Robinhood Markets in the 3rd quarter worth approximately $33,000. Hedge funds and other 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.