Robinhood Markets (NASDAQ:HOOD) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

Robinhood Markets (NASDAQ:HOOD) had its price target upped by analysts at Needham & Company LLC from $52.00 to $70.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 25.20% from the stock’s current price.

HOOD has been the subject of several other research reports. Raymond James assumed coverage on Robinhood Markets in a report on Wednesday, February 5th. They issued a “market perform” rating for the company. JMP Securities lifted their target price on shares of Robinhood Markets from $33.00 to $40.00 and gave the company a “market outperform” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. upgraded Robinhood Markets from an “underweight” rating to a “neutral” rating and increased their price target for the company from $20.00 to $43.00 in a report on Tuesday, January 7th. Citigroup boosted their price objective on Robinhood Markets from $25.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. Finally, Morgan Stanley upped their target price on Robinhood Markets from $64.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Robinhood Markets currently has a consensus rating of “Moderate Buy” and an average price target of $51.07.

Robinhood Markets Stock Up 4.8 %

Shares of HOOD stock opened at $55.91 on Thursday. The stock has a market cap of $49.42 billion, a P/E ratio of 94.76, a P/E/G ratio of 0.73 and a beta of 2.13. The business has a fifty day simple moving average of $44.48 and a 200-day simple moving average of $31.90. Robinhood Markets has a fifty-two week low of $11.43 and a fifty-two week high of $57.27.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.13. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. On average, sell-side analysts anticipate that Robinhood Markets will post 0.97 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Baiju Bhatt sold 186,514 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $38.13, for a total value of $7,111,778.82. Following the completion of the sale, the director now directly owns 2,521 shares of the company’s stock, valued at $96,125.73. The trade was a 98.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $39.16, for a total value of $29,370,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,948,427 shares of company stock worth $165,005,244. Insiders own 19.95% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

Large investors have recently bought and sold shares of the business. New Wave Wealth Advisors LLC bought a new stake in shares of Robinhood Markets in the 4th quarter worth approximately $26,000. Creative Financial Designs Inc. ADV increased its position in Robinhood Markets by 750.0% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock worth $32,000 after buying an additional 750 shares during the period. Silicon Valley Capital Partners bought a new stake in Robinhood Markets in the fourth quarter valued at $37,000. Bogart Wealth LLC bought a new stake in Robinhood Markets in the fourth quarter valued at $37,000. Finally, Spire Wealth Management boosted its holdings in shares of Robinhood Markets by 104.6% during the fourth quarter. Spire Wealth Management now owns 1,074 shares of the company’s stock valued at $40,000 after acquiring an additional 549 shares during the period. 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.