Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $40.00 at JMP Securities

Robinhood Markets (NASDAQ:HOOD) had its price target raised by JMP Securities from $33.00 to $40.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a market outperform rating on the stock.

HOOD has been the subject of a number of other research reports. KeyCorp upped their price target 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. Barclays increased their price objective on shares of Robinhood Markets from $23.00 to $26.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Bank of America increased their price objective on shares of Robinhood Markets from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Robinhood Markets from $27.00 to $32.00 and gave the company a “buy” rating in a research report on Monday. Finally, JPMorgan Chase & Co. upped their price target on shares of Robinhood Markets from $17.00 to $21.00 and gave the company an “underweight” rating in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Robinhood Markets has a consensus rating of “Hold” and an average price target of $26.10.

Robinhood Markets Stock Performance

Shares of Robinhood Markets stock traded down $0.27 on Tuesday, reaching $31.95. 5,051,891 shares of the stock were exchanged, compared to its average volume of 15,932,691. The firm’s 50 day moving average is $25.20 and its 200-day moving average is $22.19. Robinhood Markets has a one year low of $7.91 and a one year high of $34.32. The firm has a market cap of $28.24 billion, a PE ratio of 54.61, a P/E/G ratio of 0.76 and a beta of 1.84.

Robinhood Markets (NASDAQ:HOOD) last issued 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 last year, the company posted ($0.09) EPS. The business’s revenue was up 36.4% on a year-over-year basis. On average, equities research analysts expect that Robinhood Markets will post 0.72 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Vladimir Tenev sold 250,000 shares of the 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Jason Warnick sold 25,000 shares of the firm’s 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 in the company, valued at $22,577,315.52. This trade represents a 2.27 % 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 ninety days. 19.95% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. HM Payson & Co. lifted its position in shares of Robinhood Markets by 53.5% during the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after purchasing an additional 410 shares in the last quarter. Commerce Bank lifted its position in shares of Robinhood Markets by 3.3% during the third quarter. Commerce Bank now owns 13,245 shares of the company’s stock valued at $310,000 after purchasing an additional 423 shares in the last quarter. Signaturefd LLC lifted its position in shares of Robinhood Markets by 16.5% during the third quarter. Signaturefd LLC now owns 3,437 shares of the company’s stock valued at $80,000 after purchasing an additional 487 shares in the last quarter. Castleview Partners LLC lifted its position in shares of Robinhood Markets by 18.2% during the third quarter. Castleview Partners LLC now owns 3,788 shares of the company’s stock valued at $89,000 after purchasing an additional 582 shares in the last quarter. Finally, Axxcess Wealth Management LLC lifted its position in shares of Robinhood Markets by 3.1% during the third quarter. Axxcess Wealth Management LLC now owns 19,773 shares of the company’s stock valued at $463,000 after purchasing an additional 598 shares in the last quarter. 93.27% of the stock is owned by 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.