Needham & Company LLC Reaffirms “Buy” Rating for Robinhood Markets (NASDAQ:HOOD)

Robinhood Markets (NASDAQ:HOOD)‘s stock had its “buy” rating reaffirmed by research analysts at Needham & Company LLC in a research note issued on Monday,Benzinga reports. They currently have a $52.00 price target on the stock, up from their previous price target of $40.00. Needham & Company LLC’s price target would indicate a potential upside of 39.19% from the company’s previous close.

HOOD has been the subject of several other reports. Citigroup raised their price objective on shares of Robinhood Markets from $19.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, September 27th. Morgan Stanley upgraded shares of Robinhood Markets from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $24.00 to $55.00 in a report on Monday, November 25th. Deutsche Bank Aktiengesellschaft upped their price objective on Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, December 5th. The Goldman Sachs Group upgraded Robinhood Markets from a “neutral” rating to a “buy” rating and lifted their target price for the company from $40.00 to $46.00 in a research report on Friday, December 6th. Finally, Barclays upgraded Robinhood Markets from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $26.00 to $49.00 in a report on Monday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Robinhood Markets currently has a consensus rating of “Moderate Buy” and an average price target of $38.13.

Robinhood Markets Trading Down 5.5 %

HOOD stock opened at $37.36 on Monday. The company has a market cap of $33.03 billion, a price-to-earnings ratio of 63.32, a PEG ratio of 0.93 and a beta of 2.08. The firm has a 50-day moving average of $30.71 and a two-hundred day moving average of $24.65. Robinhood Markets has a 12 month low of $10.38 and a 12 month high of $42.76.

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

Insider Buying and Selling at Robinhood Markets

In other news, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction on Friday, October 4th. The stock was sold at an average price of $22.88, for a total value of $5,720,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Meyer Malka sold 1,535,681 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $40.11, for a total value of $61,596,164.91. Following the transaction, the director now directly owns 4,974,238 shares of the company’s stock, valued at $199,516,686.18. The trade was a 23.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,851,175 shares of company stock valued at $169,980,708 in the last three months. 19.95% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Robinhood Markets

A number of hedge funds have recently bought and sold shares of the stock. HM Payson & Co. increased its stake in shares of Robinhood Markets by 53.5% during the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock worth $28,000 after buying an additional 410 shares during the period. Eastern Bank acquired a new position in Robinhood Markets during the 3rd quarter worth approximately $30,000. True Wealth Design LLC acquired a new position in Robinhood Markets during the 3rd quarter worth approximately $30,000. ORG Partners LLC purchased a new stake in shares of Robinhood Markets in the 2nd quarter valued at approximately $33,000. Finally, ORG Wealth Partners LLC acquired a new stake in shares of Robinhood Markets in the 3rd quarter valued at $33,000. 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.