Robinhood Markets (NASDAQ:HOOD) Given Buy Rating at Needham & Company LLC

Robinhood Markets (NASDAQ:HOOD)‘s stock had its “buy” rating reiterated by investment analysts at Needham & Company LLC in a research note issued to investors on Monday,Benzinga reports. They currently have a $52.00 target price on the stock, up from their previous target price of $40.00. Needham & Company LLC’s target price would suggest a potential upside of 24.79% from the company’s current price.

HOOD has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft lifted their price objective on Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday. Barclays upgraded shares of Robinhood Markets from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $26.00 to $49.00 in a research note on Monday. Citigroup raised their price objective on shares of Robinhood Markets from $19.00 to $23.00 and gave the company a “neutral” rating in a research note on Friday, September 27th. JPMorgan Chase & Co. upped their target price on shares of Robinhood Markets from $17.00 to $21.00 and gave the stock an “underweight” rating in a research note on Thursday, October 17th. Finally, Sanford C. Bernstein raised their price target on shares of Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Robinhood Markets currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.13.

Robinhood Markets Stock Performance

Shares of Robinhood Markets stock opened at $41.67 on Monday. Robinhood Markets has a fifty-two week low of $10.38 and a fifty-two week high of $42.76. The firm has a market capitalization of $36.84 billion, a price-to-earnings ratio of 70.63, a PEG ratio of 0.93 and a beta of 2.08. The stock has a 50 day moving average of $30.09 and a 200 day moving average of $24.39.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The company had revenue of $637.00 million during the quarter, compared to analysts’ expectations of $660.53 million. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. Robinhood Markets’s revenue was up 36.4% on a year-over-year basis. During the same period last year, the firm posted ($0.09) earnings per share. Analysts forecast that Robinhood Markets will post 0.77 EPS for the current year.

Insiders Place Their Bets

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of Robinhood Markets stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $22.37, for a total transaction of $279,625.00. Following the transaction, the insider now owns 1,057,500 shares of the company’s stock, valued at $23,656,275. The trade was a 1.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Meyer Malka sold 3,225,806 shares of the stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $25.07, for a total value of $80,870,956.42. Following the completion of the sale, the director now directly owns 29,357,336 shares of the company’s stock, valued at $735,988,413.52. The trade was a 9.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,851,175 shares of company stock valued at $169,980,708. 19.95% of the stock is owned by corporate insiders.

Institutional Trading of Robinhood Markets

A number of large investors have recently bought and sold shares of HOOD. Franklin Resources Inc. acquired a new stake in shares of Robinhood Markets during the third quarter worth about $6,321,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Robinhood Markets in the 3rd quarter valued at approximately $351,000. Sanctuary Advisors LLC increased its holdings in shares of Robinhood Markets by 44.1% in the third quarter. Sanctuary Advisors LLC now owns 63,216 shares of the company’s stock valued at $1,481,000 after purchasing an additional 19,345 shares during the period. Toronto Dominion Bank raised its stake in shares of Robinhood Markets by 31.1% during the third quarter. Toronto Dominion Bank now owns 68,408 shares of the company’s stock worth $1,602,000 after purchasing an additional 16,219 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Robinhood Markets by 19.5% during the third quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company’s stock worth $271,708,000 after purchasing an additional 1,895,427 shares during the period. Institutional investors and hedge funds own 93.27% of the company’s stock.

Robinhood Markets Company Profile

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.