Morgan Stanley Boosts Robinhood Markets (NASDAQ:HOOD) Price Target to $43.00

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

Several other equities analysts also recently commented on the company. Needham & Company LLC lowered their price target on Robinhood Markets from $62.00 to $58.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Wolfe Research lowered Robinhood Markets from an "outperform" rating to a "peer perform" rating in a research note on Tuesday, February 18th. Citigroup lowered their target price on Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. Compass Point assumed coverage on shares of Robinhood Markets in a research report on Wednesday, March 19th. They issued a "buy" rating and a $61.00 price target on the stock. Finally, KeyCorp reduced their target price on shares of Robinhood Markets from $75.00 to $55.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $55.41.

Robinhood Markets Stock Performance

HOOD traded down $2.39 during trading on Tuesday, reaching $59.00. The company had a trading volume of 15,398,769 shares, compared to its average volume of 26,280,207. The firm's 50-day simple moving average is $44.26 and its 200 day simple moving average is $43.08. Robinhood Markets has a 12-month low of $13.98 and a 12-month high of $66.91. The company has a market cap of $52.24 billion, a price-to-earnings ratio of 37.59, a PEG ratio of 1.05 and a beta of 2.15.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly 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). The firm had revenue of $927.00 million for the quarter, compared to analysts' expectations of $917.12 million. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. The firm's revenue for the quarter was up 50.0% on a year-over-year basis. During the same period last year, the business earned $0.18 earnings per share. On average, sell-side analysts expect that Robinhood Markets will post 1.35 EPS for the current year.

Insider Buying and Selling

In related news, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $41.96, for a total transaction of $31,470,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Steven M. Quirk sold 123,272 shares of the business's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $55.80, for a total value of $6,878,577.60. Following the transaction, the insider now directly owns 298,826 shares in the company, valued at approximately $16,674,490.80. This trade represents a 29.20% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,840,014 shares of company stock worth $83,494,057. 14.47% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Robinhood Markets

Several hedge funds have recently added to or reduced their stakes in HOOD. Whipplewood Advisors LLC boosted its holdings in shares of Robinhood Markets by 564.4% during the 1st quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock worth $25,000 after buying an additional 508 shares during the period. Hemington Wealth Management grew its position in shares of Robinhood Markets by 52.2% in the first quarter. Hemington Wealth Management now owns 636 shares of the company's stock valued at $26,000 after purchasing an additional 218 shares during the last quarter. New Wave Wealth Advisors LLC acquired a new stake in Robinhood Markets during the 4th quarter worth approximately $26,000. Wayfinding Financial LLC acquired a new position in shares of Robinhood Markets in the first quarter valued at about $30,000. Finally, Pandora Wealth Inc. bought a new stake in shares of Robinhood Markets in the first 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.