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

Robinhood Markets (NASDAQ:HOOD) had its price target boosted by JMP Securities from $33.00 to $40.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have a market outperform rating on the stock.

Several other equities research analysts also recently issued reports on the company. Bank of America increased their price target on Robinhood Markets from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, August 12th. The Goldman Sachs Group reduced their price target on shares of Robinhood Markets from $25.00 to $22.00 and set a “neutral” rating for the company in a report on Friday, November 1st. KeyCorp upped their target price 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. Needham & Company LLC reissued a “hold” rating on shares of Robinhood Markets in a research note on Thursday, October 31st. Finally, Keefe, Bruyette & Woods dropped their target price on Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating on the stock in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, Robinhood Markets currently has an average rating of “Hold” and an average price target of $26.10.

Robinhood Markets Price Performance

Robinhood Markets stock opened at $32.32 on Tuesday. The firm has a market capitalization of $28.57 billion, a price-to-earnings ratio of 54.78, a PEG ratio of 0.76 and a beta of 1.84. The company’s 50 day simple moving average is $25.47 and its 200 day simple moving average is $22.29. Robinhood Markets has a fifty-two week low of $7.91 and a fifty-two week high of $34.32.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $660.53 million. During the same period in the prior year, the business earned ($0.09) earnings per share. The company’s revenue for the quarter was up 36.4% compared to the same quarter last year. As a group, analysts predict that Robinhood Markets will post 0.72 EPS for the current fiscal year.

Insiders Place Their Bets

In other Robinhood Markets news, CFO Jason Warnick sold 25,000 shares of Robinhood Markets stock in a transaction on Monday, August 26th. The shares were sold at an average price of $20.96, for a total transaction of $524,000.00. Following the completion of the transaction, the chief financial officer now directly owns 1,077,162 shares of the company’s stock, valued at $22,577,315.52. The trade was a 2.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $19.33, for a total transaction of $241,625.00. Following the completion of the transaction, the insider now directly owns 1,045,068 shares in the company, valued at $20,201,164.44. The trade was a 1.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,710,549 shares of company stock valued at $115,477,194 over the last 90 days. 19.95% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Robinhood Markets

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. HM Payson & Co. boosted its position in Robinhood Markets by 53.5% in the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after buying an additional 410 shares in the last quarter. Eastern Bank bought a new stake in shares of Robinhood Markets during the 3rd quarter valued at about $30,000. True Wealth Design LLC acquired a new stake in shares of Robinhood Markets during the 3rd quarter worth approximately $30,000. ORG Partners LLC acquired a new position in shares of Robinhood Markets during the second quarter valued at about $33,000. Finally, ORG Wealth Partners LLC bought a new position in Robinhood Markets in the third quarter worth approximately $33,000. 93.27% of the stock is currently owned by institutional investors.

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.