Robinhood Markets (NASDAQ:HOOD) Stock Price Up 7.1% After Analyst Upgrade

Key Points

• Robinhood shares jumped 7.1% after Needham & Company lifted its price target to $123 from $97 and kept a buy rating. The stock hit an intraday high of $108.21 on heavy trading volume.
• Several other analysts also turned more optimistic on the name, including Barclays and Sanford C. Bernstein, while the consensus view remains Moderate Buy with an average target price of $121.13.
• Investor interest is also being supported by Robinhood’s growth themes, including its crypto strategy and Robinhood Chain, which reportedly surpassed $450 million in total value locked shortly after launch.

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) shares rose 7.1% during trading on Tuesday after Needham & Company LLC raised their price target on the stock from $97.00 to $123.00. Needham & Company LLC currently has a buy rating on the stock. Robinhood Markets traded as high as $108.21 and last traded at $106.36. 19,350,362 shares traded hands during mid-day trading, a decline of 35% from the average session volume of 29,718,475 shares. The stock had previously closed at $99.28.

Other equities research analysts have also issued reports about the company. Barclays boosted their target price on Robinhood Markets from $82.00 to $122.00 and gave the stock an "overweight" rating in a research report on Thursday, July 9th. BTIG Research reissued a "buy" rating and issued a $125.00 price target on shares of Robinhood Markets in a research note on Thursday, July 2nd. Cantor Fitzgerald restated an "overweight" rating and set a $110.00 price objective on shares of Robinhood Markets in a report on Tuesday, June 9th. Sanford C. Bernstein raised their target price on shares of Robinhood Markets from $130.00 to $160.00 and gave the stock an "outperform" rating in a report on Monday. Finally, JPMorgan Chase & Co. dropped their target price on shares of Robinhood Markets from $113.00 to $92.00 and set a "neutral" rating on the stock in a research report on Thursday, April 23rd. Twenty-one investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $121.13.

Insider Buying and Selling

In related news, insider Steven M. Quirk sold 19,377 shares of the firm's stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $119.96, for a total transaction of $2,324,464.92. Following the completion of the sale, the insider directly owned 62,612 shares in the company, valued at approximately $7,510,935.52. This trade represents a 23.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $83.68, for a total transaction of $836,800.00. Following the transaction, the insider directly owned 481,396 shares in the company, valued at $40,283,217.28. The trade was a 2.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have acquired 680,000 shares of company stock worth $55,306,560 and have sold 587,875 shares worth $62,602,915. Company insiders own 13.48% of the company's stock.

Key Robinhood Markets News

Here are the key news stories impacting Robinhood Markets this week:

• Positive Sentiment: Needham raised its price target on Robinhood to $123 from $97 and kept a buy rating, signaling confidence in further upside for the stock. Benzinga report on Needham price target hike
• Positive Sentiment: Bernstein boosted its target to $160 from $130 and reiterated an outperform rating, arguing Robinhood could benefit from a broader shift in retail trading and from prediction markets becoming a major business line. Benzinga report on Bernstein price target hike
• Positive Sentiment: Coverage highlighted rapid early traction for Robinhood Chain, including more than $450 million in total value locked shortly after launch, reinforcing optimism around the company’s crypto strategy and 24/7 trading ambitions. Yahoo Finance video on Robinhood Chain
• Neutral Sentiment: Several articles compared Robinhood with other brokerage and trading names such as Charles Schwab and Interactive Brokers, but these were more sector context than company-specific catalysts. Charles Schwab earnings article
• Neutral Sentiment: One options-focused piece suggested traders could hedge for weakness ahead of Robinhood’s upcoming earnings, reflecting caution rather than a clear fundamental negative. Investors.com options article

Hedge Funds Weigh In On Robinhood Markets

Institutional investors and hedge funds have recently modified their holdings of the stock. Empowered Funds LLC boosted its position in Robinhood Markets by 46.7% during the first quarter. Empowered Funds LLC now owns 49,870 shares of the company's stock valued at $2,076,000 after purchasing an additional 15,885 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Robinhood Markets during the 2nd quarter worth about $5,105,000. Federated Hermes Inc. raised its stake in shares of Robinhood Markets by 106.2% during the 2nd quarter. Federated Hermes Inc. now owns 63,957 shares of the company's stock worth $5,988,000 after purchasing an additional 32,933 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in shares of Robinhood Markets by 19.1% during the 2nd quarter. NewEdge Advisors LLC now owns 89,676 shares of the company's stock valued at $8,396,000 after buying an additional 14,356 shares during the last quarter. Finally, Nebula Research & Development LLC acquired a new stake in shares of Robinhood Markets during the 2nd quarter valued at about $1,316,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Robinhood Markets Stock Performance

The company has a 50 day moving average of $94.63 and a 200 day moving average of $88.77. The firm has a market cap of $95.78 billion, a P/E ratio of 51.38, a PEG ratio of 2.11 and a beta of 2.33.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.01). The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.14 billion. Robinhood Markets had a net margin of 41.12% and a return on equity of 21.39%. Robinhood Markets's revenue was up 15.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.37 EPS. As a group, analysts expect that Robinhood Markets, Inc. will post 1.86 EPS for the current fiscal year.

Robinhood Markets Company Profile

Robinhood Markets, Inc NASDAQ: HOOD is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to "democratize finance for all." Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood's core products and services include a mobile app and web platform for trading U.S.

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