Robinhood Markets (NASDAQ:HOOD) Stock Price Expected to Rise, JMP Securities Analyst Says

Key Points

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Robinhood Markets (NASDAQ:HOOD - Get Free Report) had its price target upped by analysts at JMP Securities from $125.00 to $130.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a "market outperform" rating on the stock. JMP Securities' price target points to a potential upside of 29.01% from the company's current price.

Other equities research analysts have also recently issued reports about the stock. The Goldman Sachs Group increased their price objective on shares of Robinhood Markets from $91.00 to $104.00 and gave the company a "buy" rating in a research note on Monday, July 7th. Redburn Atlantic restated a "sell" rating and set a $48.00 price objective (up previously from $40.00) on shares of Robinhood Markets in a report on Monday, June 9th. Barclays lifted their price target on shares of Robinhood Markets from $57.00 to $102.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Compass Point raised their price objective on Robinhood Markets from $64.00 to $96.00 and gave the company a "buy" rating in a research report on Friday, June 27th. Finally, KeyCorp increased their target price on Robinhood Markets from $60.00 to $110.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Robinhood Markets presently has an average rating of "Moderate Buy" and a consensus target price of $96.29.

Robinhood Markets Stock Performance

HOOD stock traded down $2.28 during midday trading on Thursday, reaching $100.77. 32,058,521 shares of the company were exchanged, compared to its average volume of 41,611,711. The company has a market cap of $89.22 billion, a price-to-earnings ratio of 51.16, a price-to-earnings-growth ratio of 5.40 and a beta of 2.36. Robinhood Markets has a 1-year low of $13.98 and a 1-year high of $113.44. The stock's 50-day simple moving average is $86.18 and its 200 day simple moving average is $61.49.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.12. Robinhood Markets had a return on equity of 17.69% and a net margin of 50.13%. The firm had revenue of $989.00 million for the quarter, compared to analysts' expectations of $893.93 million. During the same quarter in the previous year, the firm posted $0.21 EPS. The firm's revenue for the quarter was up 45.0% on a year-over-year basis. On average, research analysts anticipate that Robinhood Markets will post 1.35 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Baiju Bhatt sold 418,338 shares of the company's stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $101.88, for a total transaction of $42,620,275.44. Following the completion of the sale, the director owned 10,518 shares in the company, valued at $1,071,573.84. This represents a 97.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the company's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $104.73, for a total value of $614,136.72. Following the completion of the sale, the chief technology officer directly owned 3,044 shares in the company, valued at approximately $318,798.12. The trade was a 65.83% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,026,690 shares of company stock valued at $257,160,102. 14.47% of the stock is owned by company insiders.

Hedge Funds Weigh In On Robinhood Markets

Hedge funds have recently made changes to their positions in the business. True Vision MN LLC grew its position in Robinhood Markets by 1.7% during the second quarter. True Vision MN LLC now owns 6,858 shares of the company's stock valued at $642,000 after purchasing an additional 116 shares in the last quarter. Forum Financial Management LP increased its position in Robinhood Markets by 0.8% in the 2nd quarter. Forum Financial Management LP now owns 17,997 shares of the company's stock worth $1,685,000 after purchasing an additional 134 shares during the last quarter. Hemington Wealth Management lifted its holdings in shares of Robinhood Markets by 22.5% during the 2nd quarter. Hemington Wealth Management now owns 779 shares of the company's stock valued at $72,000 after buying an additional 143 shares during the last quarter. Ballentine Partners LLC grew its stake in shares of Robinhood Markets by 2.3% in the 2nd quarter. Ballentine Partners LLC now owns 6,624 shares of the company's stock valued at $620,000 after buying an additional 148 shares in the last quarter. Finally, REAP Financial Group LLC grew its stake in shares of Robinhood Markets by 44.1% in the 2nd quarter. REAP Financial Group LLC now owns 523 shares of the company's stock valued at $49,000 after buying an additional 160 shares in the last quarter. 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.