Robinhood Markets (NASDAQ:HOOD) Given New $124.00 Price Target at Morgan Stanley

Robinhood Markets (NASDAQ:HOOD) had its price target raised by Morgan Stanley from $95.00 to $124.00 in a research note released on Friday,Benzinga reports. They currently have an equal weight rating on the stock.

Several other brokerages have also commented on HOOD. Zacks Research raised shares of Robinhood Markets from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. Piper Sandler reissued an “overweight” rating on shares of Robinhood Markets in a research note on Thursday, July 2nd. Needham & Company LLC upped their price objective on Robinhood Markets from $85.00 to $97.00 and gave the stock a “buy” rating in a report on Thursday, June 11th. Wall Street Zen raised Robinhood Markets from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 13th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Robinhood Markets in a research report on Wednesday, June 24th. Twenty-one research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $118.00.

Robinhood Markets Stock Down 2.7%

Shares of HOOD stock traded down $3.14 during mid-day trading on Friday, hitting $111.97. 25,855,002 shares of the company’s stock were exchanged, compared to its average volume of 28,705,120. The stock has a market cap of $100.83 billion, a price-to-earnings ratio of 54.09, a PEG ratio of 2.57 and a beta of 2.33. Robinhood Markets has a fifty-two week low of $63.51 and a fifty-two week high of $153.86. The stock has a 50-day simple moving average of $91.01 and a two-hundred day simple moving average of $89.48.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Tuesday, April 28th. The company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.01). Robinhood Markets had a return on equity of 21.39% and a net margin of 41.12%.The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter last year, the company posted $0.37 earnings per share. The business’s quarterly revenue was up 15.1% compared to the same quarter last year. As a group, analysts anticipate that Robinhood Markets will post 1.82 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Robinhood Markets news, Director Baiju Bhatt sold 67,422 shares of the business’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $75.38, for a total transaction of $5,082,270.36. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Meyer Malka bought 250,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was bought at an average cost of $80.74 per share, with a total value of $20,185,000.00. Following the transaction, the director directly owned 3,924,427 shares of the company’s stock, valued at approximately $316,858,235.98. This trade represents a 6.80% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders bought 680,000 shares of company stock valued at $55,306,560 and sold 659,112 shares valued at $68,741,158. 14.47% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Truist Financial Corp increased its holdings in Robinhood Markets by 88.9% during the 4th quarter. Truist Financial Corp now owns 145,489 shares of the company’s stock worth $16,455,000 after purchasing an additional 68,458 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Robinhood Markets by 86.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 100,849 shares of the company’s stock valued at $11,406,000 after buying an additional 46,688 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Robinhood Markets by 26.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 365,551 shares of the company’s stock worth $44,477,000 after buying an additional 76,075 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its position in shares of Robinhood Markets by 196.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 722,857 shares of the company’s stock worth $81,755,000 after buying an additional 478,919 shares in the last quarter. Finally, Capital Wealth Planning LLC increased its stake in shares of Robinhood Markets by 238.5% in the third quarter. Capital Wealth Planning LLC now owns 48,438 shares of the company’s stock worth $6,935,000 after buying an additional 34,129 shares during the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Robinhood Markets

Here are the key news stories impacting Robinhood Markets this week:

• Positive Sentiment: Morgan Stanley raised its price target on Robinhood Markets (HOOD) to $124 from $95, which signals improved upside expectations even though the firm kept an equal-weight rating.
• Positive Sentiment: Barclays also turned more bullish earlier in the week, lifting its target to $122 and maintaining an overweight rating, reinforcing analyst confidence in HOOD’s growth outlook.
• Positive Sentiment: Robinhood Chain is drawing major attention after quickly climbing into the top tier of blockchains by 24-hour DEX volume, with articles highlighting surging activity, meme-coin trading, and broader crypto engagement that could boost Robinhood’s platform relevance. Article: HOOD Stock Drops Despite Price Target Hike — Robinhood Chain Beats ARB, HYPE, NEAR In DEX Trading
• Positive Sentiment: CEO Vlad Tenev’s comments about expanding stock ownership and broadening access to investing keep the long-term growth story in focus, especially as Robinhood adds new products and markets. Article: Robinhood CEO Vlad Tenev Says ‘Only 62% of Americans’ Exposed to Stocks: ‘I’d Like to Get That to 100’
• Neutral Sentiment: Several reports note Robinhood remains heavily followed by investors and analysts, but these are more confirmation of elevated attention than new fundamental information.
• Negative Sentiment: Recent insider selling, including sales by a Robinhood director and ongoing ARK Invest trimming of HOOD shares, may be weighing on sentiment even though some trades were pre-planned under Rule 10b5-1.

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.