Robinhood Markets (NASDAQ:HOOD) Raised to Overweight at Morgan Stanley

Robinhood Markets (NASDAQ:HOOD) was upgraded by research analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research report issued on Monday, Marketbeat Ratings reports. The firm presently has a $55.00 price target on the stock, up from their prior price target of $24.00. Morgan Stanley’s target price would suggest a potential upside of 51.02% from the company’s current price.

A number of other analysts have also recently weighed in on the company. Barclays raised their price objective on Robinhood Markets from $23.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Citigroup raised their price target on Robinhood Markets from $19.00 to $23.00 and gave the stock a “neutral” rating in a report on Friday, September 27th. The Goldman Sachs Group cut their price objective on shares of Robinhood Markets from $25.00 to $22.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Robinhood Markets from $27.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Finally, Sanford C. Bernstein upped their price target on shares of Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Robinhood Markets has a consensus rating of “Moderate Buy” and a consensus price target of $30.59.

Robinhood Markets Stock Performance

HOOD stock opened at $36.42 on Monday. The firm has a market cap of $32.19 billion, a price-to-earnings ratio of 61.73, a PEG ratio of 0.85 and a beta of 1.84. The firm has a 50-day simple moving average of $27.27 and a two-hundred day simple moving average of $23.14. Robinhood Markets has a one year low of $8.21 and a one year high of $39.74.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). The firm had revenue of $637.00 million for the quarter, compared to the consensus estimate of $660.53 million. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The company’s revenue was up 36.4% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.09) EPS. As a group, equities analysts predict that Robinhood Markets will post 0.74 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Meyer Malka sold 105,875 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $30.00, for a total transaction of $3,176,250.00. Following the sale, the director now directly owns 28,930,243 shares of the company’s stock, valued at approximately $867,907,290. This represents a 0.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Vladimir Tenev sold 250,000 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $19.26, for a total transaction of $4,815,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 4,685,549 shares of company stock valued at $114,953,194 over the last ninety days. Company insiders own 19.95% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

A number of large investors have recently bought and sold shares of HOOD. Allspring Global Investments Holdings LLC increased its position in shares of Robinhood Markets by 1,211,858.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,817,670 shares of the company’s stock valued at $89,410,000 after buying an additional 3,817,355 shares in the last quarter. Azora Capital LP purchased a new stake in Robinhood Markets in the 3rd quarter worth $79,780,000. FMR LLC increased its holdings in Robinhood Markets by 31.3% in the 3rd quarter. FMR LLC now owns 14,129,544 shares of the company’s stock worth $330,914,000 after acquiring an additional 3,368,118 shares in the last quarter. Renaissance Technologies LLC raised its position in Robinhood Markets by 37.7% during the second quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company’s stock worth $173,770,000 after acquiring an additional 2,094,800 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Robinhood Markets by 19.5% during the third quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company’s stock valued at $271,708,000 after purchasing an additional 1,895,427 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.