Robinhood Markets’ (HOOD) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Robinhood Markets (NASDAQ:HOOD) in a research note published on Wednesday,Benzinga reports. They currently have a $145.00 price target on the stock.

Other equities research analysts have also issued research reports about the stock. Mizuho upped their target price on shares of Robinhood Markets from $145.00 to $172.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. Morgan Stanley boosted their price objective on Robinhood Markets from $110.00 to $146.00 and gave the company an “equal weight” rating in a report on Wednesday, October 1st. The Goldman Sachs Group upped their price objective on Robinhood Markets from $134.00 to $152.00 and gave the company a “buy” rating in a research note on Tuesday, September 30th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Robinhood Markets in a report on Wednesday, November 19th. Finally, Zacks Research downgraded Robinhood Markets from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 30th. Fourteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $136.95.

Robinhood Markets Trading Up 0.3%

Robinhood Markets stock opened at $128.55 on Wednesday. Robinhood Markets has a 52 week low of $29.66 and a 52 week high of $153.86. The stock has a market cap of $115.59 billion, a P/E ratio of 53.34, a price-to-earnings-growth ratio of 2.88 and a beta of 2.42. The stock has a 50 day moving average of $132.70 and a 200-day moving average of $107.06.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.20. Robinhood Markets had a net margin of 52.19% and a return on equity of 21.74%. The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the previous year, the firm earned $0.17 earnings per share. The business’s revenue was up 100.0% compared to the same quarter last year. As a group, equities analysts predict that Robinhood Markets will post 1.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Robinhood Markets news, insider Steven M. Quirk sold 48,350 shares of the stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $140.61, for a total value of $6,798,493.50. Following the sale, the insider directly owned 70,279 shares of the company’s stock, valued at $9,881,930.19. This trade represents a 40.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Baiju Bhatt sold 418,338 shares of the business’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $116.56, for a total transaction of $48,761,477.28. The SEC filing for this sale provides additional information. Insiders have sold a total of 3,970,272 shares of company stock valued at $505,742,993 over the last quarter. Company insiders own 14.47% of the company’s stock.

Institutional Trading of Robinhood Markets

A number of large investors have recently modified their holdings of HOOD. Valley National Advisers Inc. increased its stake in shares of Robinhood Markets by 113.6% in the third quarter. Valley National Advisers Inc. now owns 188 shares of the company’s stock valued at $26,000 after purchasing an additional 100 shares during the period. Golden State Wealth Management LLC boosted its position in shares of Robinhood Markets by 107.6% during the third quarter. Golden State Wealth Management LLC now owns 191 shares of the company’s stock worth $27,000 after buying an additional 99 shares during the period. Vision Financial Markets LLC grew its holdings in Robinhood Markets by 100.0% in the 3rd quarter. Vision Financial Markets LLC now owns 200 shares of the company’s stock worth $29,000 after buying an additional 100 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in Robinhood Markets in the 3rd quarter valued at approximately $29,000. Finally, Guerra Advisors Inc acquired a new stake in Robinhood Markets in the 3rd quarter valued at approximately $30,000. 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.