Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $146.00

Robinhood Markets (NASDAQ:HOOD) had its price objective upped by Morgan Stanley from $110.00 to $146.00 in a research note issued to investors on Wednesday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

A number of other brokerages have also recently commented on HOOD. Barclays raised their price objective on Robinhood Markets from $102.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, July 31st. Piper Sandler reissued an “overweight” rating and issued a $140.00 price objective (up previously from $120.00) on shares of Robinhood Markets in a research note on Tuesday, September 23rd. Mizuho raised their price objective on Robinhood Markets from $120.00 to $145.00 and gave the company an “outperform” rating in a research note on Wednesday, September 10th. Citigroup raised their price objective on Robinhood Markets from $120.00 to $135.00 and gave the company a “neutral” rating in a research note on Tuesday, September 23rd. Finally, The Goldman Sachs Group raised their price objective on Robinhood Markets from $134.00 to $152.00 and gave the company a “buy” rating in a research note on Tuesday. Twelve analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $113.59.

Robinhood Markets Price Performance

NASDAQ HOOD opened at $148.67 on Wednesday. The business has a 50 day simple moving average of $114.45 and a 200 day simple moving average of $82.33. Robinhood Markets has a one year low of $22.61 and a one year high of $150.21. The stock has a market capitalization of $132.12 billion, a P/E ratio of 75.47, a P/E/G ratio of 4.05 and a beta of 2.42.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, July 30th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.30 by $0.12. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%.The business had revenue of $989.00 million during the quarter, compared to analysts’ expectations of $893.93 million. During the same quarter last year, the firm posted $0.21 earnings per share. The firm’s revenue was up 45.0% on a year-over-year basis. Equities analysts expect that Robinhood Markets will post 1.35 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Daniel Martin Gallagher, Jr. sold 225,000 shares of Robinhood Markets stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $99.97, for a total transaction of $22,493,250.00. Following the transaction, the insider owned 591,887 shares of the company’s stock, valued at $59,170,943.39. The trade was a 27.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Meyer Malka sold 1,093,288 shares of Robinhood Markets stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $103.87, for a total value of $113,559,824.56. Following the transaction, the director directly owned 3,976,234 shares in the company, valued at approximately $413,011,425.58. The trade was a 21.57% decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,656,462 shares of company stock worth $614,224,917 in the last ninety days. Corporate insiders own 14.47% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Whipplewood Advisors LLC lifted its holdings in Robinhood Markets by 564.4% during the first quarter. Whipplewood Advisors LLC now owns 598 shares of the company’s stock worth $25,000 after acquiring an additional 508 shares during the period. Hantz Financial Services Inc. lifted its holdings in Robinhood Markets by 120.3% during the second quarter. Hantz Financial Services Inc. now owns 271 shares of the company’s stock worth $25,000 after acquiring an additional 148 shares during the period. Hemington Wealth Management lifted its holdings in Robinhood Markets by 52.2% during the first quarter. Hemington Wealth Management now owns 636 shares of the company’s stock worth $26,000 after acquiring an additional 218 shares during the period. Smithfield Trust Co bought a new stake in Robinhood Markets during the second quarter worth $29,000. Finally, Wayfinding Financial LLC bought a new stake in Robinhood Markets during the first quarter worth $30,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

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.