Shares of Robinhood Markets, Inc. (HOOD) jumped over 7% on Monday morning after Morgan Stanley upgraded the company.
HOOD is currently trading at $39.29, up $2.64 or 7.20%, on the Nasdaq. The stock opened its trading at $39.20 after closing Friday at $36.65. The stock has traded between $8.21 and $39.74 in the past 52-week period.
Morgan Stanley on Monday upgraded Robinhood to overweight from equal weight and hiked its price target on the shares to $55 from $24.
Robinhood Markets 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.
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