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

Robinhood Markets (NASDAQ:HOOD) was upgraded by stock analysts at Needham & Company LLC from a “hold” rating to a “buy” rating in a report issued on Monday, MarketBeat Ratings reports. The brokerage presently has a $40.00 target price on the stock. Needham & Company LLC’s price objective suggests a potential upside of 13.51% from the stock’s current price.

A number of other research analysts also recently issued reports on the stock. JPMorgan Chase & Co. boosted their price target on shares of Robinhood Markets from $17.00 to $21.00 and gave the stock an “underweight” rating in a research report on Thursday, October 17th. Piper Sandler boosted their price target on shares of Robinhood Markets from $27.00 to $30.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. KeyCorp boosted their price target on shares of Robinhood Markets from $25.00 to $30.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Citigroup boosted their price target 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. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Robinhood Markets from $27.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $27.34.

Robinhood Markets Price Performance

NASDAQ:HOOD opened at $35.24 on Monday. The firm’s 50 day simple moving average is $26.09 and its 200 day simple moving average is $22.62. Robinhood Markets has a one year low of $7.96 and a one year high of $36.32. The company has a market cap of $31.15 billion, a PE ratio of 59.73, a P/E/G ratio of 0.77 and a beta of 1.84.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The business had revenue of $637.00 million for the quarter, compared to analyst estimates of $660.53 million. During the same quarter in the prior year, the business earned ($0.09) earnings per share. The firm’s quarterly revenue was up 36.4% on a year-over-year basis. Equities research analysts expect that Robinhood Markets will post 0.72 EPS for the current year.

Insider Buying and Selling at Robinhood Markets

In other news, Director Baiju Bhatt sold 139,916 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $19.55, for a total value of $2,735,357.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Meyer Malka sold 105,875 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $30.00, for a total transaction of $3,176,250.00. Following the completion of the sale, the director now owns 28,930,243 shares of the company’s stock, valued at approximately $867,907,290. The trade was a 0.36 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,710,549 shares of company stock worth $115,477,194. 19.95% of the stock is owned by corporate insiders.

Institutional Trading of Robinhood Markets

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Robinhood Markets by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 56,828,633 shares of the company’s stock worth $1,143,960,000 after buying an additional 1,003,535 shares during the last quarter. Baker Avenue Asset Management LP boosted its holdings in shares of Robinhood Markets by 77.9% in the 3rd quarter. Baker Avenue Asset Management LP now owns 464,306 shares of the company’s stock worth $10,874,000 after buying an additional 203,354 shares during the last quarter. UniSuper Management Pty Ltd boosted its holdings in shares of Robinhood Markets by 87.1% in the 1st quarter. UniSuper Management Pty Ltd now owns 5,800 shares of the company’s stock worth $117,000 after buying an additional 2,700 shares during the last quarter. Aigen Investment Management LP purchased a new position in shares of Robinhood Markets in the 3rd quarter worth about $770,000. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in shares of Robinhood Markets by 146.7% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,161,240 shares of the company’s stock worth $27,196,000 after buying an additional 690,467 shares during the last quarter. Institutional investors 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.