Needham & Company LLC Lowers Robinhood Markets (NASDAQ:HOOD) Price Target to $58.00

Robinhood Markets (NASDAQ:HOOD - Get Free Report) had its price objective reduced by stock analysts at Needham & Company LLC from $62.00 to $58.00 in a research note issued to investors on Thursday, Marketbeat Ratings reports. The brokerage currently has a "buy" rating on the stock. Needham & Company LLC's target price suggests a potential upside of 19.37% from the stock's current price.

Several other research firms have also commented on HOOD. Mizuho boosted their price objective on shares of Robinhood Markets from $60.00 to $65.00 and gave the stock an "outperform" rating in a research note on Friday, February 7th. KeyCorp cut their price target on Robinhood Markets from $75.00 to $55.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. raised their price target on Robinhood Markets from $39.00 to $45.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Robinhood Markets from $75.00 to $61.00 and set a "buy" rating on the stock in a research note on Wednesday, March 12th. Finally, Barclays reduced their price objective on shares of Robinhood Markets from $76.00 to $45.00 and set an "overweight" rating for the company in a research note on Monday, April 7th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $53.24.

Robinhood Markets Trading Up 4.2 %

Shares of HOOD stock traded up $1.97 during midday trading on Thursday, reaching $48.59. 59,084,034 shares of the stock were exchanged, compared to its average volume of 25,744,391. Robinhood Markets has a 1 year low of $13.98 and a 1 year high of $66.91. The firm has a market cap of $43.02 billion, a PE ratio of 30.95, a price-to-earnings-growth ratio of 1.05 and a beta of 2.17. The company's 50 day moving average is $43.08 and its two-hundred day moving average is $41.56.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.41 by ($0.04). Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. The firm had revenue of $927.00 million during the quarter, compared to the consensus estimate of $917.12 million. During the same quarter last year, the company posted $0.18 EPS. Robinhood Markets's revenue for the quarter was up 50.0% compared to the same quarter last year. As a group, equities analysts expect that Robinhood Markets will post 1.35 EPS for the current fiscal year.

Insider Buying and Selling

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the firm's stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $34.51, for a total transaction of $201,987.03. Following the sale, the chief technology officer now owns 5,853 shares in the company, valued at approximately $201,987.03. This trade represents a 50.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Baiju Bhatt sold 522,180 shares of the company's stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $62.70, for a total transaction of $32,740,686.00. Following the completion of the transaction, the director now owns 5,042 shares of the company's stock, valued at approximately $316,133.40. The trade was a 99.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,334,593 shares of company stock valued at $114,815,021. 19.95% of the stock is owned by company insiders.

Institutional Investors Weigh In On Robinhood Markets

A number of institutional investors have recently bought and sold shares of the business. Whipplewood Advisors LLC grew its position in shares of Robinhood Markets by 564.4% during the first quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock worth $25,000 after purchasing an additional 508 shares in the last quarter. New Wave Wealth Advisors LLC bought a new position in Robinhood Markets in the 4th quarter worth approximately $26,000. Wayfinding Financial LLC purchased a new stake in Robinhood Markets during the 1st quarter valued at approximately $30,000. CoreCap Advisors LLC grew its holdings in Robinhood Markets by 191.6% during the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock valued at $31,000 after buying an additional 550 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV raised its position in shares of Robinhood Markets by 750.0% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company's stock valued at $32,000 after buying an additional 750 shares during the last quarter. Hedge funds and other 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.