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

Needham & Company LLC upgraded shares of Robinhood Markets (NASDAQ:HOOD) from a hold rating to a buy rating in a report issued on Monday morning, MarketBeat Ratings reports. They currently have $40.00 target price on the stock.

HOOD has been the topic of several other reports. Deutsche Bank Aktiengesellschaft upped their price target on shares of Robinhood Markets from $27.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Citigroup raised their target price on shares of Robinhood Markets from $19.00 to $23.00 and gave the company a “neutral” rating in a research note on Friday, September 27th. The Goldman Sachs Group lowered their price target on Robinhood Markets from $25.00 to $22.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. JPMorgan Chase & Co. raised their price objective on Robinhood Markets from $17.00 to $21.00 and gave the company an “underweight” rating in a research report on Thursday, October 17th. Finally, Barclays boosted their target price on Robinhood Markets from $23.00 to $26.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.34.

Robinhood Markets Price Performance

Shares of NASDAQ HOOD opened at $35.00 on Monday. The business has a 50-day moving average of $25.77 and a 200-day moving average of $22.49. The stock has a market capitalization of $30.94 billion, a price-to-earnings ratio of 59.32, a PEG ratio of 0.77 and a beta of 1.84. Robinhood Markets has a fifty-two week low of $7.96 and a fifty-two week high of $35.62.

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

Insider Activity

In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $19.26, for a total transaction of $4,815,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Meyer Malka sold 3,225,806 shares of the company’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $25.07, for a total value of $80,870,956.42. Following the sale, the director now owns 29,357,336 shares of the company’s stock, valued at approximately $735,988,413.52. The trade was a 9.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,710,549 shares of company stock worth $115,477,194. Corporate insiders own 19.95% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

Several hedge funds have recently bought and sold shares of the company. HM Payson & Co. boosted its position in shares of Robinhood Markets by 53.5% during the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock worth $28,000 after acquiring an additional 410 shares in the last quarter. Eastern Bank bought a new stake in Robinhood Markets during the third quarter worth $30,000. True Wealth Design LLC acquired a new stake in shares of Robinhood Markets in the 3rd quarter valued at $30,000. ORG Partners LLC acquired a new stake in shares of Robinhood Markets in the 2nd quarter valued at $33,000. Finally, ORG Wealth Partners LLC bought a new position in shares of Robinhood Markets in the 3rd quarter valued at $33,000. 93.27% of the stock is owned by institutional investors.

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.