Robinhood Markets (NASDAQ:HOOD) Earns “Buy” Rating from Needham & Company LLC

Robinhood Markets (NASDAQ:HOOD)‘s stock had its “buy” rating restated by equities research analysts at Needham & Company LLC in a research note issued to investors on Monday,Benzinga reports. They presently have a $52.00 price target on the stock, up from their prior price target of $40.00. Needham & Company LLC’s target price points to a potential upside of 39.19% from the stock’s current price.

Several other equities research analysts also recently commented on HOOD. Bank of America lifted their price objective on shares of Robinhood Markets from $28.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Citigroup boosted their price target on Robinhood Markets from $19.00 to $23.00 and gave the company a “neutral” rating in a research note on Friday, September 27th. Sanford C. Bernstein raised their price objective on Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. Barclays upgraded Robinhood Markets from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $26.00 to $49.00 in a research report on Monday. Finally, Piper Sandler raised their price target on shares of Robinhood Markets from $36.00 to $42.00 and gave the stock an “overweight” rating in a research report on Monday, December 2nd. One investment 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. Based on data from MarketBeat, Robinhood Markets currently has a consensus rating of “Moderate Buy” and an average target price of $38.13.

Robinhood Markets Trading Down 5.5 %

NASDAQ HOOD opened at $37.36 on Monday. The firm’s fifty day simple moving average is $30.71 and its two-hundred day simple moving average is $24.65. The firm has a market capitalization of $33.03 billion, a P/E ratio of 63.32, a P/E/G ratio of 0.93 and a beta of 2.08. Robinhood Markets has a 12-month low of $10.38 and a 12-month high of $42.76.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.01). The business had revenue of $637.00 million for the quarter, compared to analysts’ expectations of $660.53 million. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The firm’s quarterly revenue was up 36.4% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.09) earnings per share. As a group, sell-side analysts predict that Robinhood Markets will post 0.77 earnings per share for the current fiscal year.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $22.88, for a total transaction of $5,720,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $22.37, for a total value of $279,625.00. Following the completion of the sale, the insider now owns 1,057,500 shares of the company’s stock, valued at $23,656,275. This trade represents a 1.17 % 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 worth $169,980,708. 19.95% of the stock is owned by company insiders.

Hedge Funds Weigh In On Robinhood Markets

A number of large investors have recently added to or reduced their stakes in HOOD. 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 purchasing an additional 410 shares in the last quarter. Eastern Bank acquired a new stake in Robinhood Markets in the 3rd quarter worth about $30,000. True Wealth Design LLC purchased a new stake in Robinhood Markets during the 3rd quarter worth approximately $30,000. ORG Partners LLC acquired a new position in shares of Robinhood Markets during the second quarter valued at approximately $33,000. Finally, ORG Wealth Partners LLC purchased a new position in shares of Robinhood Markets in the third quarter valued at approximately $33,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

About Robinhood Markets

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.