Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $110.00 at Morgan Stanley

Robinhood Markets (NASDAQ:HOOD - Get Free Report) had its price target hoisted by stock analysts at Morgan Stanley from $43.00 to $110.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Morgan Stanley's price target suggests a potential upside of 6.54% from the stock's previous close.

Other analysts have also issued research reports about the stock. JMP Securities upped their target price on shares of Robinhood Markets from $70.00 to $125.00 and gave the stock a "market outperform" rating in a research note on Monday. Redburn Atlantic restated a "sell" rating and set a $48.00 price target (up from $40.00) on shares of Robinhood Markets in a report on Monday, June 9th. Mizuho upped their price objective on Robinhood Markets from $80.00 to $99.00 and gave the company an "outperform" rating in a research note on Tuesday, July 1st. Barclays lifted their price objective on shares of Robinhood Markets from $57.00 to $102.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Finally, Citigroup upped their price target on Robinhood Markets from $50.00 to $100.00 and gave the company a "neutral" rating in a research report on Monday, July 7th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Robinhood Markets presently has a consensus rating of "Moderate Buy" and a consensus target price of $85.29.

Robinhood Markets Trading Up 3.7%

NASDAQ HOOD traded up $3.71 during trading hours on Tuesday, hitting $103.25. The company's stock had a trading volume of 54,537,635 shares, compared to its average volume of 30,643,417. The company has a market capitalization of $91.42 billion, a PE ratio of 58.67, a price-to-earnings-growth ratio of 5.14 and a beta of 2.36. Robinhood Markets has a 52 week low of $13.98 and a 52 week high of $104.62. The company's 50-day simple moving average is $76.60 and its two-hundred day simple moving average is $56.58.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share for the quarter, missing analysts' consensus estimates of $0.41 by ($0.04). Robinhood Markets had a net margin of 48.77% and a return on equity of 15.42%. The company had revenue of $927.00 million during the quarter, compared to the consensus estimate of $917.12 million. During the same quarter in the prior year, the business earned $0.18 EPS. The firm's revenue for the quarter was up 50.0% compared to the same quarter last year. Research analysts anticipate that Robinhood Markets will post 1.35 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Steven M. Quirk sold 104,887 shares of the firm's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $70.14, for a total transaction of $7,356,774.18. Following the sale, the insider owned 228,621 shares in the company, valued at approximately $16,035,476.94. This trade represents a 31.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Baiju Bhatt sold 418,338 shares of the company's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $64.46, for a total transaction of $26,966,067.48. Following the completion of the transaction, the director owned 7,863 shares of the company's stock, valued at $506,848.98. This trade represents a 98.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,364,145 shares of company stock worth $181,837,741 in the last ninety days. 14.47% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Robinhood Markets

A number of large investors have recently added to or reduced their stakes in the company. TD Private Client Wealth LLC raised its position in Robinhood Markets by 184.4% in the 1st quarter. TD Private Client Wealth LLC now owns 1,829 shares of the company's stock worth $76,000 after purchasing an additional 1,186 shares during the period. Wealthcare Advisory Partners LLC purchased a new position in shares of Robinhood Markets in the first quarter worth about $277,000. Fiduciary Alliance LLC purchased a new position in shares of Robinhood Markets in the first quarter worth about $2,177,000. Invesco Ltd. boosted its holdings in Robinhood Markets by 132.6% during the 4th quarter. Invesco Ltd. now owns 2,867,595 shares of the company's stock valued at $106,847,000 after acquiring an additional 1,634,599 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Robinhood Markets by 335.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,185,225 shares of the company's stock valued at $193,202,000 after acquiring an additional 3,994,745 shares during the period. Hedge funds and other institutional investors 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.