Robinhood Markets (NASDAQ:HOOD) Raised to “Buy” at Needham & Company LLC

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

A number of other analysts have also recently commented on HOOD. Keefe, Bruyette & Woods cut their price target on shares of Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating for the company in a research note on Thursday, August 8th. The Goldman Sachs Group cut their price target on shares of Robinhood Markets from $25.00 to $22.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. Morgan Stanley increased their price target on shares of Robinhood Markets from $22.00 to $24.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Bank of America increased their price target on shares of Robinhood Markets from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Finally, Barclays increased their price target on shares of Robinhood Markets from $23.00 to $26.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $27.34.

Robinhood Markets Trading Up 0.7 %

Shares of HOOD opened at $35.24 on Monday. Robinhood Markets has a 12 month low of $7.96 and a 12 month high of $36.32. The firm has a fifty day simple moving average of $26.09 and a 200 day simple moving average of $22.62. The stock has a market capitalization of $31.15 billion, a price-to-earnings ratio of 59.73, a PEG ratio of 0.77 and a beta of 1.84.

Robinhood Markets (NASDAQ:HOOD) last announced 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 previous year, the company posted ($0.09) EPS. The business’s revenue for the quarter was up 36.4% compared to the same quarter last year. As a group, research analysts predict that Robinhood Markets will post 0.72 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Robinhood Markets news, Director Meyer Malka sold 105,875 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $30.00, for a total value of $3,176,250.00. Following the transaction, the director now directly owns 28,930,243 shares of the company’s stock, valued at $867,907,290. This trade represents a 0.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Baiju Bhatt sold 98,404 shares of the firm’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $26.40, for a total transaction of $2,597,865.60. Following the completion of the transaction, the director now directly owns 2,521 shares in the company, valued at approximately $66,554.40. This represents a 97.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,710,549 shares of company stock valued at $115,477,194. 19.95% of the stock is owned by company insiders.

Institutional Investors Weigh In On Robinhood Markets

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake 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 valued at $1,143,960,000 after purchasing an additional 1,003,535 shares in the last quarter. Baker Avenue Asset Management LP boosted its stake 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 valued at $10,874,000 after purchasing an additional 203,354 shares in the last quarter. UniSuper Management Pty Ltd boosted its stake 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 valued at $117,000 after purchasing an additional 2,700 shares in the last quarter. Aigen Investment Management LP acquired a new stake in shares of Robinhood Markets in the 3rd quarter valued at approximately $770,000. Finally, Robeco Institutional Asset Management B.V. boosted its stake 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 valued at $27,196,000 after purchasing an additional 690,467 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

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.