- The shares of Robinhood Markets Inc (NASDAQ: HOOD) have received a $14 price target from Morgan Stanley. These are the details.
The shares of Robinhood Markets Inc (NASDAQ: HOOD) have received a $14 price target from Morgan Stanley. And Morgan Stanley analyst Michael Cyprys is maintaining an “Equal-Weight” rating on the shares.
Cyprys adjusted the rating after noting that FTX’s CEO Sam Bankman-Fried disclosed in mid-May that he acquired a 7.6% ownership stake in the company and that was followed by reports about a potential acquisition. Now Cyprys sees downside support in the shares with potential for strategic optionality.
But Cyprys sees a wide valuation range of between $5 and $54 per share when assessing the potential strategic value based on precedent transactions consideirng precedent comps related to highly profitable companies compared to Robinhood being in an unprofitable position.
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