Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $43.00

Robinhood Markets (NASDAQ:HOOD - Free Report) had its target price boosted by Morgan Stanley from $40.00 to $43.00 in a research report released on Tuesday,Benzinga reports. They currently have an equal weight rating on the stock.

Several other equities analysts have also issued reports on HOOD. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Robinhood Markets from $75.00 to $61.00 and set a "buy" rating for the company in a report on Wednesday, March 12th. Mizuho boosted their price target on shares of Robinhood Markets from $60.00 to $65.00 and gave the company an "outperform" rating in a report on Friday, February 7th. JPMorgan Chase & Co. boosted their price target on shares of Robinhood Markets from $44.00 to $47.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. Needham & Company LLC decreased their price target on shares of Robinhood Markets from $62.00 to $58.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Finally, Piper Sandler boosted their price target on shares of Robinhood Markets from $54.00 to $75.00 and gave the company an "overweight" rating in a report on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $55.41.

Robinhood Markets Price Performance

Shares of Robinhood Markets stock traded up $1.08 on Tuesday, hitting $61.76. 23,851,695 shares of the company's stock traded hands, compared to its average volume of 26,289,986. The firm's 50-day moving average price is $45.27 and its two-hundred day moving average price is $43.54. The stock has a market capitalization of $54.69 billion, a PE ratio of 39.34, a price-to-earnings-growth ratio of 1.05 and a beta of 2.15. Robinhood Markets has a one year low of $13.98 and a one year high of $66.91.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.04). The business had revenue of $927.00 million for the quarter, compared to the consensus estimate of $917.12 million. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. The business's revenue was up 50.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.18 EPS. On average, analysts forecast that Robinhood Markets will post 1.35 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $41.96, for a total value of $31,470,000.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 50,000 shares of Robinhood Markets stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $60.77, for a total transaction of $3,038,500.00. Following the completion of the transaction, the insider now directly owns 706,642 shares in the company, valued at $42,942,634.34. This trade represents a 6.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,947,622 shares of company stock valued at $89,994,656. 14.47% of the stock is owned by company insiders.

Institutional Trading of Robinhood Markets

Hedge funds have recently added to or reduced their stakes in the stock. Whipplewood Advisors LLC boosted its position in Robinhood Markets by 564.4% in the first quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock valued at $25,000 after buying an additional 508 shares in the last quarter. Hemington Wealth Management raised its stake in Robinhood Markets by 52.2% during the first quarter. Hemington Wealth Management now owns 636 shares of the company's stock worth $26,000 after buying an additional 218 shares during the last quarter. New Wave Wealth Advisors LLC bought a new position in Robinhood Markets during the fourth quarter worth $26,000. Wayfinding Financial LLC bought a new stake in Robinhood Markets in the first quarter valued at $30,000. Finally, Pandora Wealth Inc. bought a new stake in Robinhood Markets in the first quarter valued at $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.