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

Robinhood Markets (NASDAQ:HOOD) had its target price boosted by JMP Securities from $60.00 to $77.00 in a research note issued to investors on Thursday morning,Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

A number of other brokerages have also recently weighed in on HOOD. JPMorgan Chase & Co. upgraded shares of Robinhood Markets from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $20.00 to $43.00 in a research note on Tuesday, January 7th. Needham & Company LLC raised their target price on shares of Robinhood Markets from $52.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday. Piper Sandler raised their target price on shares of Robinhood Markets from $36.00 to $42.00 and gave the stock an “overweight” rating in a research note on Monday, December 2nd. Morgan Stanley raised their target price on shares of Robinhood Markets from $64.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Sanford C. Bernstein raised their target price on shares of Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.07.

Robinhood Markets Price Performance

Shares of NASDAQ:HOOD opened at $65.28 on Thursday. The stock has a market cap of $57.71 billion, a P/E ratio of 110.65, a P/E/G ratio of 0.73 and a beta of 2.13. The firm has a fifty day moving average price of $45.45 and a 200 day moving average price of $32.52. Robinhood Markets has a 1-year low of $13.04 and a 1-year high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. Sell-side analysts expect that Robinhood Markets will post 0.97 EPS for the current fiscal year.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $37.92, for a total transaction of $222,817.92. Following the completion of the transaction, the chief technology officer now directly owns 11,752 shares in the company, valued at approximately $445,635.84. This trade represents a 33.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Steven M. Quirk sold 19,861 shares of the firm’s stock in a transaction dated Sunday, December 1st. The shares were sold at an average price of $37.54, for a total transaction of $745,581.94. Following the transaction, the insider now owns 395,166 shares of the company’s stock, valued at $14,834,531.64. This trade represents a 4.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,948,427 shares of company stock worth $165,005,244 over the last 90 days. Company insiders own 19.95% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

Several hedge funds have recently added to or reduced their stakes in the business. Toronto Dominion Bank grew its holdings in shares of Robinhood Markets by 31.1% during the third quarter. Toronto Dominion Bank now owns 68,408 shares of the company’s stock worth $1,602,000 after buying an additional 16,219 shares in the last quarter. Everence Capital Management Inc. purchased a new stake in shares of Robinhood Markets during the fourth quarter worth about $634,000. Atomi Financial Group Inc. grew its holdings in shares of Robinhood Markets by 20.7% during the fourth quarter. Atomi Financial Group Inc. now owns 540,910 shares of the company’s stock worth $20,154,000 after buying an additional 92,613 shares in the last quarter. Requisite Capital Management LLC purchased a new stake in shares of Robinhood Markets during the fourth quarter worth about $266,000. Finally, Baker Avenue Asset Management LP grew its holdings in shares of Robinhood Markets by 77.9% during the third quarter. Baker Avenue Asset Management LP now owns 464,306 shares of the company’s stock worth $10,874,000 after buying an additional 203,354 shares in the last quarter. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

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.