Robinhood Markets (NASDAQ:HOOD) Given New $40.00 Price Target at JMP Securities

Robinhood Markets (NASDAQ:HOOD) had its price objective boosted by JMP Securities from $33.00 to $40.00 in a research note published on Tuesday morning,Benzinga reports. They currently have a market outperform rating on the stock.

A number of other analysts have also recently commented on HOOD. Citigroup upped their price target on shares of Robinhood Markets from $19.00 to $23.00 and gave the company a “neutral” rating in a research note on Friday, September 27th. JPMorgan Chase & Co. raised their target price on Robinhood Markets from $17.00 to $21.00 and gave the stock an “underweight” rating in a research note on Thursday, October 17th. Needham & Company LLC reissued a “hold” rating on shares of Robinhood Markets in a report on Thursday, October 31st. Keefe, Bruyette & Woods decreased their price target on shares of Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating on the stock in a report on Thursday, August 8th. Finally, Morgan Stanley lifted their price target on Robinhood Markets from $22.00 to $24.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $26.10.

Robinhood Markets Stock Performance

Shares of NASDAQ:HOOD opened at $32.32 on Tuesday. The company’s 50-day moving average is $25.47 and its 200 day moving average is $22.29. Robinhood Markets has a fifty-two week low of $7.91 and a fifty-two week high of $34.32. The company has a market capitalization of $28.57 billion, a P/E ratio of 54.78, a price-to-earnings-growth ratio of 0.76 and a beta of 1.84.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate 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 the consensus estimate of $660.53 million. During the same quarter in the previous year, the firm earned ($0.09) earnings per share. The business’s quarterly revenue was up 36.4% compared to the same quarter last year. As a group, research analysts predict that Robinhood Markets will post 0.72 earnings per share for the current year.

Insider Buying and Selling

In other Robinhood Markets news, Director Baiju Bhatt sold 139,916 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $19.55, for a total value of $2,735,357.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Vladimir Tenev sold 250,000 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $19.26, for a total value of $4,815,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,710,549 shares of company stock worth $115,477,194. Insiders own 19.95% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

Several hedge funds have recently modified their holdings of the stock. HM Payson & Co. increased its holdings in 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. Eastern Bank purchased a new position in shares of Robinhood Markets during the 3rd quarter valued at about $30,000. True Wealth Design LLC purchased a new stake in shares of Robinhood Markets in the third quarter worth about $30,000. ORG Partners LLC purchased a new position in Robinhood Markets during the second quarter valued at approximately $33,000. Finally, ORG Wealth Partners LLC purchased a new position in Robinhood Markets during the third quarter valued at approximately $33,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

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.