Morgan Stanley Raises LPL Financial (LPLA) Price Target to $393

Morgan Stanley has reiterated its Overweight rating on LPL Financial Holdings Inc. (LPLA) and raised its price target from $387.00 to $393.00 on October 9, 2026. This update reflects the firm's positive outlook on the company amid its strong performance in the financial services sector.

Other Institutional Activity in LPL Financial Holdings

Several other funds have also been active with their positions in LPL Financial. Blackrock Inc. trimmed its stake by 241,251 shares, ending with 4,732,991 shares valued at about $1.52 billion. Dodge & Cox Inc. added 432,076 shares, bringing its total to 4,578,679 shares worth approximately $1.47 billion. Boston Partners grew its holdings by 119,398 shares, totaling 4,250,828 shares valued at around $1.36 billion. Meanwhile, Jupiter Topco LLC saw a significant increase, adding 2,099,178 shares to reach 4,198,356 shares worth about $1.35 billion. Vanguard Portfolio Management LLC slightly reduced its stake by 20,031 shares, now holding 3,832,005 shares valued at about $1.23 billion.

LPL Financial Holdings Inc. Stock Down 2.7%

As of October 16, 2026, LPL Financial's stock is trading around $319.25. This price is about 18.8% below Morgan Stanley's new target of $393.00, indicating potential upside for investors. The stock's performance is noteworthy given its recent revenue growth and profitability metrics.

Recent Earnings

LPL Financial reported a revenue of approximately $19.20 billion over the trailing twelve months, showing a year-over-year revenue growth of 36.4%. The company also boasts a net margin of 5.2% and a return on equity of 18.6%. The next earnings report is set for October 29, 2026.

Insider Buying and Selling at LPL Financial Holdings Inc.

Insiders at LPL Financial have been active in selling shares. Officer Greg Gates sold 4,119 shares at an average price of $355.38 on August 20, 2026, totaling about $1.46 million. Aneri Jambusaria, another officer, sold 308 shares at $357.36 on August 27, 2026, valued at around $110,067. Additionally, Matthew Enyedi sold 1,000 shares on July 31, 2026, for approximately $352,716, while Katharine Reeping sold 439 shares at $347.88 on September 11, 2026, totaling about $153,049.

Analysts Set New Price Targets

On October 6, 2026, BMO Capital maintained an Outperform rating with a price target of $370.00, down from $390.00. UBS also maintained a Buy rating with a target of $390.00, slightly down from $391.00 on October 7. JP Morgan kept its Overweight rating, raising its target to $445.00 from $428.00 on the same day. Barclays also maintained its Overweight rating, increasing its target to $409.00 from $401.00 on October 7. Morgan Stanley's recent target of $393.00 is among the higher targets set by analysts.

About LPL Financial Holdings

LPL Financial Holdings Inc. provides a platform for brokerage and investment advisory services to independent financial advisors and institutions across the United States. Headquartered in San Diego, California, the company serves over 10,000 employees and is a key player in the financial services sector.

Bottom Line

Investors should watch for LPL Financial's next earnings report on October 29, 2026. With Morgan Stanley's recent target increase and the stock's current position, there may be further developments in the coming weeks.