Needham & Company LLC Reaffirms Buy Rating for Robinhood Markets (NASDAQ:HOOD)

Robinhood Markets (NASDAQ:HOOD - Get Free Report)'s stock had its "buy" rating reaffirmed by equities researchers at Needham & Company LLC in a report released on Tuesday,Benzinga reports. They currently have a $71.00 price target on the stock. Needham & Company LLC's price objective suggests a potential upside of 12.40% from the company's current price.

Other analysts also recently issued reports about the stock. Compass Point began coverage on shares of Robinhood Markets in a research note on Wednesday, March 19th. They issued a "buy" rating and a $61.00 price objective on the stock. Piper Sandler increased their price target on Robinhood Markets from $54.00 to $75.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th. Wolfe Research cut Robinhood Markets from an "outperform" rating to a "peer perform" rating in a report on Tuesday, February 18th. The Goldman Sachs Group raised their target price on Robinhood Markets from $56.00 to $64.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. Finally, JMP Securities reissued a "market outperform" rating and issued a $70.00 price target on shares of Robinhood Markets in a report on Thursday, May 1st. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, Robinhood Markets currently has an average rating of "Moderate Buy" and an average price target of $55.41.

Robinhood Markets Price Performance

Shares of HOOD stock opened at $63.17 on Tuesday. The business has a fifty day moving average of $48.17 and a 200 day moving average of $45.34. Robinhood Markets has a 1 year low of $13.98 and a 1 year high of $66.91. The firm has a market capitalization of $55.93 billion, a price-to-earnings ratio of 40.24, a price-to-earnings-growth ratio of 1.05 and a beta of 2.15.

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

Insider Activity at Robinhood Markets

In other news, Director Meyer Malka sold 64,951 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $49.64, for a total value of $3,224,167.64. Following the transaction, the director now owns 3,235,585 shares in the company, valued at $160,614,439.40. This trade represents a 1.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $49.02, for a total value of $1,225,500.00. Following the sale, the insider now owns 822,893 shares of the company's stock, valued at $40,338,214.86. The trade was a 2.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,192,688 shares of company stock valued at $107,043,646. 14.47% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Robinhood Markets

A number of hedge funds have recently modified their holdings of the business. FMR LLC raised its holdings in Robinhood Markets by 184.8% in the 4th quarter. FMR LLC now owns 40,237,478 shares of the company's stock valued at $1,499,248,000 after acquiring an additional 26,107,934 shares during the last quarter. Norges Bank acquired a new position in shares of Robinhood Markets during the 4th quarter worth approximately $329,598,000. GQG Partners LLC purchased a new stake in shares of Robinhood Markets in the fourth quarter valued at approximately $302,325,000. Vanguard Group Inc. increased its holdings in shares of Robinhood Markets by 8.6% in the first quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company's stock valued at $3,089,914,000 after purchasing an additional 5,874,701 shares during the last quarter. Finally, AGF Management Ltd. increased its holdings in shares of Robinhood Markets by 286.0% in the first quarter. AGF Management Ltd. now owns 5,743,715 shares of the company's stock valued at $239,053,000 after purchasing an additional 4,255,862 shares during 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.

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