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

Robinhood Markets (NASDAQ:HOOD) had its target price raised by analysts at Morgan Stanley from $64.00 to $90.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s price objective indicates a potential upside of 60.97% from the company’s previous close.

Several other equities analysts also recently issued reports on the company. JMP Securities upped their target price on Robinhood Markets from $33.00 to $40.00 and gave the company a “market outperform” rating in a research report on Tuesday, November 12th. KeyCorp increased their price objective on Robinhood Markets from $50.00 to $57.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Piper Sandler lifted their target price on Robinhood Markets from $36.00 to $42.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $52.00 target price (up previously from $40.00) on shares of Robinhood Markets in a research report on Monday, December 9th. Finally, Barclays increased their price target on shares of Robinhood Markets from $49.00 to $54.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.40.

Robinhood Markets Stock Performance

Shares of HOOD stock opened at $55.91 on Thursday. Robinhood Markets has a fifty-two week low of $11.43 and a fifty-two week high of $57.27. The firm has a market capitalization of $49.42 billion, a price-to-earnings ratio of 94.76, a PEG ratio of 0.73 and a beta of 2.13. The stock’s 50-day simple moving average is $44.48 and its 200-day simple moving average is $31.90.

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

Insiders Place Their Bets

In related news, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $39.16, for a total value of $29,370,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Meyer Malka sold 1,535,681 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $40.11, for a total value of $61,596,164.91. Following the transaction, the director now owns 4,974,238 shares in the company, valued at $199,516,686.18. This represents a 23.59 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,948,427 shares of company stock worth $165,005,244. Company insiders own 19.95% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MIG Capital LLC purchased a new position in Robinhood Markets during the fourth quarter valued at $339,000. Russell Investments Group Ltd. raised its position in shares of Robinhood Markets by 43.8% during the 4th quarter. Russell Investments Group Ltd. now owns 1,124,276 shares of the company’s stock worth $41,891,000 after purchasing an additional 342,350 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of Robinhood Markets by 80.6% during the 4th quarter. Envestnet Asset Management Inc. now owns 252,766 shares of the company’s stock worth $9,418,000 after purchasing an additional 112,807 shares during the last quarter. Aviva PLC lifted its stake in Robinhood Markets by 115.9% in the 4th quarter. Aviva PLC now owns 301,719 shares of the company’s stock valued at $11,242,000 after buying an additional 161,978 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. acquired a new stake in Robinhood Markets in the 4th quarter worth about $5,556,000. 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.