Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $147.00 at Morgan Stanley

Robinhood Markets (NASDAQ:HOOD) had its target price lifted by equities research analysts at Morgan Stanley from $146.00 to $147.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s target price suggests a potential upside of 20.67% from the company’s current price.

Several other equities research analysts also recently issued reports on HOOD. Dbs Bank upgraded Robinhood Markets to a “moderate buy” rating in a report on Wednesday, November 12th. Weiss Ratings restated a “hold (c)” rating on shares of Robinhood Markets in a report on Monday, December 8th. Barclays upped their price target on shares of Robinhood Markets from $168.00 to $171.00 and gave the company an “overweight” rating in a report on Friday, December 12th. The Goldman Sachs Group raised their price objective on shares of Robinhood Markets from $134.00 to $152.00 and gave the stock a “buy” rating in a report on Tuesday, September 30th. Finally, Citigroup upped their target price on shares of Robinhood Markets from $120.00 to $135.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $137.30.

Robinhood Markets Stock Performance

HOOD traded up $0.47 during midday trading on Monday, reaching $121.82. 9,950,976 shares of the company were exchanged, compared to its average volume of 38,876,516. The stock has a market capitalization of $109.54 billion, a P/E ratio of 50.60, a PEG ratio of 2.40 and a beta of 2.43. Robinhood Markets has a one year low of $29.66 and a one year high of $153.86. The stock’s 50-day simple moving average is $129.19 and its 200 day simple moving average is $114.12.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.20. Robinhood Markets had a net margin of 52.19% and a return on equity of 21.74%. The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same period last year, the company posted $0.17 EPS. Robinhood Markets’s revenue for the quarter was up 100.0% on a year-over-year basis. On average, research analysts anticipate that Robinhood Markets will post 1.35 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $139.73, for a total value of $104,797,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 120,000 shares of the company’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $132.13, for a total transaction of $15,855,600.00. Following the sale, the insider directly owned 430,012 shares in the company, valued at $56,817,485.56. This trade represents a 21.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 3,680,899 shares of company stock worth $475,130,364 over the last 90 days. 19.95% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Valley National Advisers Inc. increased its position in Robinhood Markets by 113.6% during the third quarter. Valley National Advisers Inc. now owns 188 shares of the company’s stock worth $26,000 after buying an additional 100 shares during the last quarter. Golden State Wealth Management LLC increased its holdings in shares of Robinhood Markets by 107.6% during the 3rd quarter. Golden State Wealth Management LLC now owns 191 shares of the company’s stock worth $27,000 after acquiring an additional 99 shares during the last quarter. Vision Financial Markets LLC raised its stake in Robinhood Markets by 100.0% in the 3rd quarter. Vision Financial Markets LLC now owns 200 shares of the company’s stock valued at $29,000 after acquiring an additional 100 shares during the period. Stonehage Fleming Financial Services Holdings Ltd bought a new position in Robinhood Markets during the third quarter worth $29,000. Finally, Guerra Advisors Inc acquired a new position in shares of Robinhood Markets in the third quarter valued at $30,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

About Robinhood Markets

Robinhood Markets, Inc (NASDAQ: HOOD) is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to “democratize finance for all.” Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood’s core products and services include a mobile app and web platform for trading U.S.