Robinhood Markets (NASDAQ:HOOD) Given Market Outperform Rating at JMP Securities

Robinhood Markets (NASDAQ:HOOD)‘s stock had its “market outperform” rating restated by stock analysts at JMP Securities in a report released on Thursday, Benzinga reports. They presently have a $25.00 price objective on the stock. JMP Securities’ target price would suggest a potential upside of 24.81% from the stock’s current price.

HOOD has been the topic of a number of other reports. Redburn Atlantic assumed coverage on Robinhood Markets in a research note on Friday, December 1st. They issued a “neutral” rating and a $9.50 price objective on the stock. JPMorgan Chase & Co. lifted their price objective on Robinhood Markets from $10.00 to $12.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 14th. KeyCorp lifted their price objective on Robinhood Markets from $15.00 to $22.00 and gave the stock an “overweight” rating in a research note on Thursday. Sanford C. Bernstein assumed coverage on Robinhood Markets in a research note on Thursday, March 14th. They issued an “outperform” rating and a $30.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Robinhood Markets from $12.00 to $16.00 and gave the stock a “hold” rating in a research note on Tuesday, March 19th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Robinhood Markets currently has a consensus rating of “Hold” and an average target price of $16.04.

Robinhood Markets Price Performance

NASDAQ:HOOD traded up $0.02 during trading hours on Thursday, hitting $20.03. The company’s stock had a trading volume of 6,782,887 shares, compared to its average volume of 15,433,941. The stock has a fifty day simple moving average of $14.40 and a 200-day simple moving average of $11.70. The company has a market capitalization of $17.52 billion, a P/E ratio of -33.73 and a beta of 1.63. Robinhood Markets has a twelve month low of $7.91 and a twelve month high of $20.55.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Tuesday, February 13th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.04. The business had revenue of $471.00 million for the quarter, compared to analyst estimates of $454.73 million. Robinhood Markets had a negative return on equity of 7.87% and a negative net margin of 29.01%. Robinhood Markets’s revenue was up 23.9% compared to the same quarter last year. During the same period last year, the firm posted ($0.19) earnings per share. On average, equities analysts predict that Robinhood Markets will post 0.23 EPS for the current fiscal year.

Insider Activity

In other news, CEO Vladimir Tenev sold 500,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $15.12, for a total transaction of $7,560,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Jason Warnick sold 5,000 shares of the company’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $12.43, for a total transaction of $62,150.00. Following the completion of the sale, the chief financial officer now owns 921,267 shares in the company, valued at $11,451,348.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Vladimir Tenev sold 500,000 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $15.12, for a total value of $7,560,000.00. The disclosure for this sale can be found here. Insiders sold a total of 2,435,027 shares of company stock worth $34,531,948 over the last quarter. 20.81% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Robinhood Markets

Institutional investors have recently bought and sold shares of the stock. Raymond James & Associates grew its stake in Robinhood Markets by 30.3% in the 1st quarter. Raymond James & Associates now owns 69,419 shares of the company’s stock valued at $938,000 after purchasing an additional 16,133 shares during the period. Raymond James Financial Services Advisors Inc. bought a new position in Robinhood Markets in the 1st quarter valued at $199,000. Bank of New York Mellon Corp grew its stake in Robinhood Markets by 21.9% in the 1st quarter. Bank of New York Mellon Corp now owns 53,868 shares of the company’s stock valued at $727,000 after purchasing an additional 9,661 shares during the period. Cambridge Investment Research Advisors Inc. grew its stake in Robinhood Markets by 69.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 21,760 shares of the company’s stock valued at $294,000 after purchasing an additional 8,882 shares during the period. Finally, HighTower Advisors LLC grew its stake in Robinhood Markets by 38.2% in the 1st quarter. HighTower Advisors LLC now owns 92,318 shares of the company’s stock valued at $1,248,000 after purchasing an additional 25,502 shares during the period. 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.