Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $77.00 at JMP Securities

Robinhood Markets (NASDAQ:HOOD) had its price objective upped by JMP Securities from $60.00 to $77.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “market outperform” rating on the stock. JMP Securities’ price objective indicates a potential upside of 22.71% from the company’s previous close.

Several other equities research analysts have also issued reports on HOOD. Piper Sandler increased their target price on shares of Robinhood Markets from $36.00 to $42.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd. Mizuho increased their price objective on shares of Robinhood Markets from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Sanford C. Bernstein lifted their target price on shares of Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. The Goldman Sachs Group upgraded Robinhood Markets from a “neutral” rating to a “buy” rating and increased their price target for the stock from $40.00 to $46.00 in a research note on Friday, December 6th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Robinhood Markets has an average rating of “Moderate Buy” and an average price target of $53.53.

Robinhood Markets Stock Performance

Shares of HOOD stock traded up $6.84 during mid-day trading on Thursday, reaching $62.75. 35,605,930 shares of the company’s stock traded hands, compared to its average volume of 22,032,619. The firm has a market capitalization of $55.47 billion, a PE ratio of 106.09, a price-to-earnings-growth ratio of 0.73 and a beta of 2.13. Robinhood Markets has a 12 month low of $12.77 and a 12 month high of $66.91. The firm has a 50 day moving average price of $44.48 and a two-hundred day moving average price of $31.90.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.13. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. As a group, equities analysts expect that Robinhood Markets will post 0.97 earnings per share for the current fiscal year.

Insider Activity at Robinhood Markets

In other news, CEO Vladimir Tenev sold 750,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $39.16, for a total value of $29,370,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Baiju Bhatt sold 90,866 shares of the stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $55.34, for a total transaction of $5,028,524.44. Following the completion of the transaction, the director now directly owns 5,042 shares of the company’s stock, valued at approximately $279,024.28. The trade was a 94.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,948,427 shares of company stock valued at $165,005,244 over the last 90 days. 19.95% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Robinhood Markets

A number of institutional investors and hedge funds have recently modified their holdings of HOOD. Dorsey & Whitney Trust CO LLC raised its holdings in Robinhood Markets by 2.4% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company’s stock valued at $368,000 after buying an additional 233 shares during the period. First Horizon Advisors Inc. increased its position in Robinhood Markets by 7.8% during the fourth quarter. First Horizon Advisors Inc. now owns 3,822 shares of the company’s stock valued at $142,000 after acquiring an additional 277 shares during the last quarter. HM Payson & Co. raised its stake 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 acquiring an additional 410 shares during the period. Commerce Bank lifted its holdings in shares of Robinhood Markets by 3.3% in the 3rd quarter. Commerce Bank now owns 13,245 shares of the company’s stock worth $310,000 after acquiring an additional 423 shares during the last quarter. Finally, Signaturefd LLC boosted its stake in shares of Robinhood Markets by 16.5% during the 3rd quarter. Signaturefd LLC now owns 3,437 shares of the company’s stock worth $80,000 after purchasing an additional 487 shares during the period. Hedge funds and other institutional investors own 93.27% of the company’s stock.

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.