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JMP Securities Thinks Robinhood Markets’ Stock is Going to Recover

In a report released yesterday, Devin Ryan from JMP Securities reiterated a Buy rating on Robinhood Markets (HOODResearch Report), with a price target of $28.00. The company’s shares closed last Tuesday at $9.23, close to its 52-week low of $6.81.

According to TipRanks.com, Ryan is a 5-star analyst with an average return of 14.0% and a 59.9% success rate. Ryan covers the Financial sector, focusing on stocks such as Sixth Street Specialty Lending, Perella Weinberg Partners, and Oaktree Specialty Lending.

Currently, the analyst consensus on Robinhood Markets is a Hold with an average price target of $11.28, which is a 28.0% upside from current levels. In a report released yesterday, Mizuho Securities also maintained a Buy rating on the stock with a $14.00 price target.

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The company has a one-year high of $85.00 and a one-year low of $6.81. Currently, Robinhood Markets has an average volume of 18.73M.

Based on the recent corporate insider activity of 148 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of HOOD in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Robinhood Markets Inc is creating a modern financial services platform. It designs its own products and services and delivers them through a single, app-based cloud platform supported by proprietary technology. Its vertically integrated platform has enabled the introduction of new products and services such as cryptocurrency trading, dividend reinvestment, fractional shares, recurring investments, and IPO Access. It earns transaction-based revenues from routing user orders for options, equities, and cryptocurrencies to market makers when a routed order is executed.

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