Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $47.00 at JPMorgan Chase & Co.

Robinhood Markets (NASDAQ:HOOD) had its price target raised by JPMorgan Chase & Co. from $44.00 to $47.00 in a research report released on Thursday,Benzinga reports. They currently have a neutral rating on the stock.

Other analysts have also issued research reports about the company. Wolfe Research lowered Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, February 18th. Barclays reduced their target price on shares of Robinhood Markets from $76.00 to $45.00 and set an “overweight” rating on the stock in a report on Monday, April 7th. KeyCorp lowered their price target on shares of Robinhood Markets from $75.00 to $55.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. JMP Securities reduced their price objective on Robinhood Markets from $77.00 to $70.00 and set a “market outperform” rating on the stock in a research note on Tuesday, April 8th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $60.00 target price on shares of Robinhood Markets in a report on Thursday, March 27th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $53.24.

Robinhood Markets Price Performance

Shares of Robinhood Markets stock opened at $46.62 on Thursday. Robinhood Markets has a 1 year low of $13.98 and a 1 year high of $66.91. The firm has a market cap of $41.28 billion, a PE ratio of 29.69, a PEG ratio of 1.05 and a beta of 2.17. The company has a 50 day simple moving average of $43.03 and a two-hundred day simple moving average of $41.41.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.04). Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. The company had revenue of $927.00 million during the quarter, compared to analysts’ expectations of $917.12 million. During the same quarter last year, the firm posted $0.18 earnings per share. The firm’s revenue was up 50.0% on a year-over-year basis. As a group, research analysts anticipate that Robinhood Markets will post 1.35 earnings per share for the current year.

Insider Transactions at Robinhood Markets

In other news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $51.60, for a total value of $1,290,000.00. Following the completion of the transaction, the insider now owns 706,642 shares of the company’s stock, valued at approximately $36,462,727.20. This represents a 3.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Baiju Bhatt sold 94,156 shares of Robinhood Markets stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $50.67, for a total value of $4,770,884.52. Following the sale, the director now owns 7,863 shares in the company, valued at $398,418.21. This represents a 92.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,334,593 shares of company stock valued at $114,815,021. Company insiders own 19.95% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

Institutional investors have recently added to or reduced their stakes in the company. FMR LLC grew its position in shares of Robinhood Markets by 184.8% in the 4th quarter. FMR LLC now owns 40,237,478 shares of the company’s stock worth $1,499,248,000 after buying an additional 26,107,934 shares during the period. Norges Bank bought a new stake in Robinhood Markets during the fourth quarter worth about $329,598,000. GQG Partners LLC purchased a new stake in Robinhood Markets in the fourth quarter worth about $302,325,000. Artisan Partners Limited Partnership bought a new position in shares of Robinhood Markets during the fourth quarter valued at approximately $152,949,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Robinhood Markets by 335.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,185,225 shares of the company’s stock valued at $193,202,000 after purchasing an additional 3,994,745 shares during the last quarter. 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.