JMP Securities Forecasts Strong Price Appreciation for Robinhood Markets (NASDAQ:HOOD) Stock

Robinhood Markets (NASDAQ:HOOD) had its price target lifted by equities research analysts at JMP Securities from $130.00 to $170.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “market outperform” rating on the stock. JMP Securities’ price objective points to a potential upside of 22.34% from the company’s previous close.

HOOD has been the subject of several other reports. Citigroup lifted their price target on Robinhood Markets from $120.00 to $135.00 and gave the company a “neutral” rating in a report on Tuesday, September 23rd. Bank of America lifted their price target on Robinhood Markets from $139.00 to $157.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. Needham & Company LLC lifted their price target on Robinhood Markets from $120.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, September 30th. Morgan Stanley raised their price objective on Robinhood Markets from $110.00 to $146.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 1st. 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, September 30th. Twelve investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $118.94.

Robinhood Markets Trading Down 8.9%

Shares of NASDAQ HOOD opened at $138.96 on Thursday. Robinhood Markets has a one year low of $23.00 and a one year high of $153.86. The firm has a market capitalization of $123.49 billion, a PE ratio of 70.54, a PEG ratio of 4.24 and a beta of 2.42. The business has a 50-day moving average price of $118.70 and a two-hundred day moving average price of $85.80.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.12. The firm had revenue of $989.00 million during the quarter, compared to analyst estimates of $893.93 million. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%.The business’s quarterly revenue was up 45.0% compared to the same quarter last year. During the same period last year, the company posted $0.21 EPS. Research analysts anticipate that Robinhood Markets will post 1.35 EPS for the current year.

Insider Transactions at Robinhood Markets

In related news, Director Meyer Malka sold 1,093,288 shares of the company’s stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $103.87, for a total value of $113,559,824.56. Following the completion of the transaction, the director directly owned 3,976,234 shares in the company, valued at approximately $413,011,425.58. This represents a 21.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Vladimir Tenev sold 750,000 shares of the company’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $139.73, for a total value of $104,797,500.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,681,122 shares of company stock valued at $618,215,681. Company insiders own 14.47% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of HOOD. WCM Investment Management LLC raised its stake in Robinhood Markets by 3,615.7% during the second quarter. WCM Investment Management LLC now owns 11,555,160 shares of the company’s stock worth $1,081,910,000 after acquiring an additional 11,244,182 shares in the last quarter. Norges Bank acquired a new position in Robinhood Markets during the second quarter worth $973,122,000. Kingstone Capital Partners Texas LLC acquired a new position in Robinhood Markets during the second quarter worth $951,479,000. Vanguard Group Inc. raised its stake in Robinhood Markets by 8.6% during the first quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company’s stock worth $3,089,914,000 after acquiring an additional 5,874,701 shares in the last quarter. Finally, AGF Management Ltd. raised its stake in Robinhood Markets by 286.0% during the first quarter. AGF Management Ltd. now owns 5,743,715 shares of the company’s stock worth $239,053,000 after acquiring an additional 4,255,862 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

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.