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

Robinhood Markets (NASDAQ:HOOD) had its price objective upped by JMP Securities from $30.00 to $33.00 in a research report sent to investors on Thursday morning, Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

A number of other analysts have also recently commented on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Robinhood Markets from $24.00 to $27.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. KeyCorp increased their price objective on shares of Robinhood Markets from $25.00 to $30.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Bank of America increased their target price on shares of Robinhood Markets from $28.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Piper Sandler upped their price objective on shares of Robinhood Markets from $27.00 to $30.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Finally, Needham & Company LLC reissued a “hold” rating on shares of Robinhood Markets in a research note on Thursday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $25.37.

Robinhood Markets Price Performance

Shares of HOOD stock traded up $0.07 during mid-day trading on Thursday, hitting $23.56. The stock had a trading volume of 11,304,547 shares, compared to its average volume of 15,520,659. Robinhood Markets has a 12-month low of $7.91 and a 12-month high of $28.58. The firm’s 50-day moving average is $23.39 and its two-hundred day moving average is $21.35. The firm has a market capitalization of $20.84 billion, a P/E ratio of 40.14 and a beta of 1.84.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Robinhood Markets had a return on equity of 7.61% and a net margin of 21.80%. The firm had revenue of $637.00 million during the quarter, compared to the consensus estimate of $660.53 million. During the same quarter in the prior year, the firm posted ($0.09) earnings per share. The business’s revenue for the quarter was up 36.4% compared to the same quarter last year. Analysts expect that Robinhood Markets will post 0.74 EPS for the current year.

Insider Buying and Selling

In other Robinhood Markets news, Director Baiju Bhatt sold 98,404 shares of Robinhood Markets stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $26.40, for a total value of $2,597,865.60. Following the transaction, the director now directly owns 2,521 shares in the company, valued at approximately $66,554.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Baiju Bhatt sold 98,404 shares of the firm’s stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $26.40, for a total value of $2,597,865.60. Following the completion of the transaction, the director now owns 2,521 shares in the company, valued at $66,554.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Meyer Malka sold 3,225,806 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $25.07, for a total transaction of $80,870,956.42. Following the transaction, the director now directly owns 29,357,336 shares of the company’s stock, valued at approximately $735,988,413.52. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,639,654 shares of company stock worth $110,241,632 in the last quarter. 19.95% of the stock is owned by insiders.

Institutional Investors Weigh In On Robinhood Markets

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its holdings in shares of Robinhood Markets by 1,211,858.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,817,670 shares of the company’s stock valued at $89,410,000 after acquiring an additional 3,817,355 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Robinhood Markets by 37.7% in the second quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company’s stock valued at $173,770,000 after buying an additional 2,094,800 shares in the last quarter. Sparta 24 Ltd. grew its stake in shares of Robinhood Markets by 905.8% in the third quarter. Sparta 24 Ltd. now owns 1,625,158 shares of the company’s stock valued at $38,061,000 after buying an additional 1,463,578 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Robinhood Markets by 169.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,991,586 shares of the company’s stock valued at $40,092,000 after buying an additional 1,251,495 shares during the period. Finally, AQR Capital Management LLC lifted its position in Robinhood Markets by 274.7% during the 2nd quarter. AQR Capital Management LLC now owns 1,661,824 shares of the company’s stock worth $37,341,000 after acquiring an additional 1,218,317 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Robinhood Markets Company Profile

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.