Morgan Stanley Forecasts Strong Price Appreciation for Robinhood Markets (NASDAQ:HOOD) Stock

Robinhood Markets (NASDAQ:HOOD) had its target price raised by analysts at Morgan Stanley from $55.00 to $64.00 in a research report issued to clients and investors on Friday,Briefing.com Automated Import reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s target price points to a potential upside of 32.92% from the company’s current price.

Several other equities research analysts have also recently weighed in on the stock. Deutsche Bank Aktiengesellschaft increased their target price on shares of Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Keefe, Bruyette & Woods lifted their price objective on Robinhood Markets from $24.00 to $38.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. The Goldman Sachs Group upgraded Robinhood Markets from a “neutral” rating to a “buy” rating and upped their target price for the company from $40.00 to $46.00 in a research note on Friday, December 6th. Piper Sandler lifted their price target on shares of Robinhood Markets from $36.00 to $42.00 and gave the stock an “overweight” rating in a research note on Monday, December 2nd. Finally, Barclays increased their price objective on shares of Robinhood Markets from $49.00 to $54.00 and gave the company an “overweight” rating in a research note on Monday. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $43.07.

Robinhood Markets Stock Up 4.5 %

NASDAQ HOOD traded up $2.07 during trading on Friday, hitting $48.15. The company’s stock had a trading volume of 33,770,605 shares, compared to its average volume of 21,263,281. Robinhood Markets has a 52 week low of $10.38 and a 52 week high of $49.27. The firm has a market cap of $42.56 billion, a P/E ratio of 81.61, a price-to-earnings-growth ratio of 0.58 and a beta of 2.07. The firm has a 50 day moving average price of $38.28 and a 200 day moving average price of $28.00.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The company had revenue of $637.00 million for the quarter, compared to the consensus estimate of $660.53 million. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The company’s revenue was up 36.4% compared to the same quarter last year. During the same period last year, the firm posted ($0.09) EPS. On average, equities analysts expect that Robinhood Markets will post 0.91 earnings per share for the current year.

Insider Activity at Robinhood Markets

In other news, insider Steven M. Quirk sold 19,861 shares of the company’s stock in a transaction that occurred on Sunday, December 1st. The shares were sold at an average price of $37.54, for a total transaction of $745,581.94. Following the transaction, the insider now directly owns 395,166 shares in the company, valued at approximately $14,834,531.64. This represents a 4.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $24.21, for a total transaction of $6,052,500.00. The disclosure for this sale can be found here. Insiders sold 3,609,792 shares of company stock valued at $136,247,178 in the last three months. Corporate insiders own 19.95% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Janney Montgomery Scott LLC lifted its stake in shares of Robinhood Markets by 88.4% during the fourth quarter. Janney Montgomery Scott LLC now owns 24,825 shares of the company’s stock valued at $925,000 after acquiring an additional 11,650 shares during the period. SG Americas Securities LLC raised its holdings in Robinhood Markets by 67.2% during the 4th quarter. SG Americas Securities LLC now owns 60,118 shares of the company’s stock worth $2,240,000 after purchasing an additional 24,161 shares during the last quarter. Evolution Wealth Advisors LLC acquired a new position in Robinhood Markets during the 4th quarter valued at about $242,000. Atomi Financial Group Inc. boosted its stake in shares of Robinhood Markets by 20.7% in the 4th quarter. Atomi Financial Group Inc. now owns 540,910 shares of the company’s stock valued at $20,154,000 after purchasing an additional 92,613 shares during the last quarter. Finally, Perpetual Ltd acquired a new stake in shares of Robinhood Markets during the 4th quarter worth approximately $1,139,000. 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.