Robinhood Markets (NASDAQ:HOOD) Upgraded by Morgan Stanley to “Overweight” Rating

Morgan Stanley upgraded shares of Robinhood Markets (NASDAQ:HOOD) from an equal weight rating to an overweight rating in a research report sent to investors on Monday morning, MarketBeat Ratings reports. They currently have $55.00 target price on the stock, up from their prior target price of $24.00.

A number of other research firms also recently weighed in on HOOD. Barclays increased their target price on shares of Robinhood Markets from $23.00 to $26.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Sanford C. Bernstein increased their price objective on shares of Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Keefe, Bruyette & Woods dropped their target price on shares of Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating on the stock in a report on Thursday, August 8th. JPMorgan Chase & Co. increased their price target on Robinhood Markets from $17.00 to $21.00 and gave the stock an “underweight” rating in a report on Thursday, October 17th. Finally, Bank of America boosted their price objective on Robinhood Markets from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, August 12th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $30.59.

Robinhood Markets Stock Performance

Shares of NASDAQ:HOOD opened at $37.65 on Monday. Robinhood Markets has a 52 week low of $8.35 and a 52 week high of $39.74. The firm has a market cap of $33.28 billion, a PE ratio of 63.81, a price-to-earnings-growth ratio of 0.88 and a beta of 1.84. The firm’s fifty day moving average is $27.84 and its 200-day moving average is $23.39.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, October 30th. The company reported $0.17 EPS 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 company had revenue of $637.00 million for the quarter, compared to analyst estimates of $660.53 million. The firm’s quarterly revenue was up 36.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.09) earnings per share. Sell-side analysts forecast that Robinhood Markets will post 0.74 EPS for the current year.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, Director Baiju Bhatt sold 139,916 shares of Robinhood Markets stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $19.55, for a total transaction of $2,735,357.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Meyer Malka sold 105,875 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $30.00, for a total value of $3,176,250.00. Following the sale, the director now directly owns 28,930,243 shares of the company’s stock, valued at $867,907,290. This represents a 0.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,685,549 shares of company stock worth $114,953,194. 19.95% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Robinhood Markets

Large investors have recently bought and sold shares of the stock. HM Payson & Co. raised its holdings in shares of 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 purchasing an additional 410 shares during the last quarter. True Wealth Design LLC bought a new stake in Robinhood Markets in the 3rd quarter worth about $30,000. Eastern Bank purchased a new stake in Robinhood Markets in the 3rd quarter valued at about $30,000. ORG Wealth Partners LLC bought a new position in shares of Robinhood Markets during the 3rd quarter worth approximately $33,000. Finally, ORG Partners LLC purchased a new position in shares of Robinhood Markets in the 2nd quarter worth approximately $33,000. 93.27% of the stock is currently 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.