JMP Securities Issues Positive Forecast for Robinhood Markets (NASDAQ:HOOD) Stock Price

Robinhood Markets (NASDAQ:HOOD) had its price target boosted by equities research analysts at JMP Securities from $33.00 to $40.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “market outperform” rating on the stock. JMP Securities’ price target suggests a potential upside of 21.95% from the company’s previous close.

HOOD has been the topic of a number of other research reports. 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 report on Monday, October 21st. Piper Sandler increased their price objective on shares of Robinhood Markets from $27.00 to $30.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Robinhood Markets from $27.00 to $32.00 and gave the stock a “buy” rating in a report on Monday. The Goldman Sachs Group decreased 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. Finally, Citigroup increased their price objective on shares of Robinhood Markets from $19.00 to $23.00 and gave the stock a “neutral” rating in a report on Friday, September 27th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $26.10.

Robinhood Markets Stock Performance

HOOD opened at $32.80 on Tuesday. The firm’s 50-day simple moving average is $24.42 and its 200-day simple moving average is $21.94. Robinhood Markets has a twelve month low of $7.91 and a twelve month high of $34.32. The firm has a market cap of $28.99 billion, a price-to-earnings ratio of 55.59, a PEG ratio of 0.73 and a beta of 1.84.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.01). Robinhood Markets had a return on equity of 7.52% 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 period in the previous year, the company posted ($0.09) EPS. The firm’s revenue for the quarter was up 36.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Robinhood Markets will post 0.71 EPS for the current fiscal year.

Insider Activity at Robinhood Markets

In related news, Director Baiju Bhatt sold 143,944 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $18.73, for a total value of $2,696,071.12. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Baiju Bhatt sold 143,944 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $18.73, for a total value of $2,696,071.12. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Meyer Malka sold 3,225,806 shares of the stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $25.07, for a total transaction of $80,870,956.42. Following the completion of the sale, the director now owns 29,357,336 shares in the company, valued at $735,988,413.52. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,854,493 shares of company stock worth $118,173,265 in the last ninety days. Company insiders own 19.95% of the company’s stock.

Institutional Trading of Robinhood Markets

Several hedge funds have recently bought and sold shares of the stock. Intech Investment Management LLC raised its holdings in Robinhood Markets by 871.9% during the 3rd quarter. Intech Investment Management LLC now owns 192,960 shares of the company’s stock worth $4,519,000 after buying an additional 173,107 shares during the period. EULAV Asset Management raised its holdings in Robinhood Markets by 22.2% during the 3rd quarter. EULAV Asset Management now owns 550,000 shares of the company’s stock worth $12,881,000 after buying an additional 100,000 shares during the period. Commerce Bank raised its holdings in Robinhood Markets by 3.3% during the 3rd quarter. Commerce Bank now owns 13,245 shares of the company’s stock worth $310,000 after buying an additional 423 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Robinhood Markets during the 3rd quarter worth approximately $365,000. Finally, Banque Cantonale Vaudoise raised its holdings in Robinhood Markets by 77.0% during the 3rd quarter. Banque Cantonale Vaudoise now owns 132,523 shares of the company’s stock worth $3,104,000 after buying an additional 57,663 shares during the period. 93.27% of the stock is currently owned by institutional investors and hedge funds.

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.