JMP Securities Reaffirms "Market Outperform" Rating for Robinhood Markets (NASDAQ:HOOD)

Robinhood Markets (NASDAQ:HOOD - Get Free Report)'s stock had its "market outperform" rating reaffirmed by equities researchers at JMP Securities in a research note issued on Thursday, Benzinga reports. They presently have a $30.00 price objective on the stock. JMP Securities' price objective would indicate a potential upside of 67.60% from the stock's previous close.

Several other research analysts also recently commented on HOOD. Barclays lifted their target price on Robinhood Markets from $16.00 to $18.00 and gave the stock an "underweight" rating in a research note on Thursday, May 9th. TheStreet upgraded shares of Robinhood Markets from a "d+" rating to a "c-" rating in a research note on Wednesday, February 28th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Robinhood Markets from $12.00 to $16.00 and gave the company a "hold" rating in a research note on Tuesday, March 19th. The Goldman Sachs Group increased their target price on shares of Robinhood Markets from $18.00 to $20.00 and gave the stock a "neutral" rating in a research report on Monday, April 15th. Finally, Keefe, Bruyette & Woods started coverage on shares of Robinhood Markets in a research note on Wednesday, April 3rd. They issued a "market perform" rating and a $20.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $19.42.

Robinhood Markets Trading Down 3.3 %

Shares of HOOD traded down $0.62 during midday trading on Thursday, reaching $17.90. The stock had a trading volume of 22,103,443 shares, compared to its average volume of 15,050,559. The firm has a market cap of $15.65 billion, a PE ratio of 119.33 and a beta of 1.74. The firm has a 50 day simple moving average of $17.92 and a 200-day simple moving average of $13.69. Robinhood Markets has a one year low of $7.91 and a one year high of $20.55.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its earnings results on Wednesday, May 8th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.13. The business had revenue of $618.00 million during the quarter, compared to the consensus estimate of $552.74 million. Robinhood Markets had a net margin of 6.22% and a return on equity of 1.86%. Robinhood Markets's revenue was up 40.1% on a year-over-year basis. During the same period last year, the business posted ($0.57) EPS. As a group, research analysts forecast that Robinhood Markets will post 0.53 EPS for the current fiscal year.

Insider Buying and Selling

In other Robinhood Markets news, insider Steven M. Quirk sold 60,895 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $14.43, for a total transaction of $878,714.85. Following the completion of the sale, the insider now owns 350,769 shares of the company's stock, valued at approximately $5,061,596.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Robinhood Markets news, insider Steven M. Quirk sold 60,895 shares of the company's stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $14.43, for a total transaction of $878,714.85. Following the sale, the insider now owns 350,769 shares of the company's stock, valued at $5,061,596.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Baiju Bhatt sold 153,180 shares of the company's stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $16.63, for a total value of $2,547,383.40. The disclosure for this sale can be found here. Insiders have sold a total of 2,561,206 shares of company stock valued at $41,414,650 over the last ninety days. 20.81% of the stock is owned by company insiders.

Institutional Trading of Robinhood Markets

Several large investors have recently made changes to their positions in the company. Angeles Wealth Management LLC boosted its holdings in Robinhood Markets by 5.3% in the first quarter. Angeles Wealth Management LLC now owns 12,207 shares of the company's stock worth $246,000 after acquiring an additional 610 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Robinhood Markets by 46.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company's stock worth $29,000 after purchasing an additional 722 shares in the last quarter. Commerce Bank grew its position in Robinhood Markets by 7.9% in the 4th quarter. Commerce Bank now owns 12,459 shares of the company's stock valued at $159,000 after purchasing an additional 917 shares during the period. DekaBank Deutsche Girozentrale raised its holdings in Robinhood Markets by 4.7% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 23,642 shares of the company's stock worth $310,000 after buying an additional 1,060 shares during the last quarter. Finally, Whittier Trust Co. raised its holdings in Robinhood Markets by 25.8% during the first quarter. Whittier Trust Co. now owns 5,828 shares of the company's stock worth $117,000 after buying an additional 1,194 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

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.