Robinhood Markets (NASDAQ:HOOD) Upgraded at Needham & Company LLC

Robinhood Markets (NASDAQ:HOOD) was upgraded by equities researchers at Needham & Company LLC from a “hold” rating to a “buy” rating in a research note issued to investors on Monday, MarketBeat Ratings reports. The brokerage presently has a $40.00 price objective on the stock. Needham & Company LLC’s price target indicates a potential upside of 23.76% from the stock’s current price.

Several other research analysts have also recently commented on the company. JMP Securities increased their price target on Robinhood Markets from $33.00 to $40.00 and gave the company a “market outperform” rating in a research report on Tuesday, November 12th. Citigroup upped their price objective on Robinhood Markets from $19.00 to $23.00 and gave the company a “neutral” rating in a research note on Friday, September 27th. Barclays increased their target price on Robinhood Markets from $23.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. The Goldman Sachs Group lowered their target price on Robinhood Markets from $25.00 to $22.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. increased their target price on Robinhood Markets from $17.00 to $21.00 and gave the stock an “underweight” rating in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $26.97.

Robinhood Markets Price Performance

HOOD stock opened at $32.32 on Monday. The stock has a market capitalization of $28.57 billion, a P/E ratio of 54.78, a P/E/G ratio of 0.77 and a beta of 1.84. The business has a 50-day moving average of $25.47 and a 200-day moving average of $22.37. Robinhood Markets has a fifty-two week low of $7.91 and a fifty-two week high of $34.32.

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

Insider Activity

In related news, Director Baiju Bhatt sold 139,916 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $19.55, for a total transaction of $2,735,357.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Jason Warnick sold 25,000 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $20.96, for a total value of $524,000.00. Following the sale, the chief financial officer now owns 1,077,162 shares in the company, valued at $22,577,315.52. This represents a 2.27 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,710,549 shares of company stock worth $115,477,194. Insiders own 19.95% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

Institutional investors have recently made changes to their positions in the stock. HM Payson & Co. grew its position in shares of Robinhood Markets by 53.5% in the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after buying an additional 410 shares during the last quarter. Eastern Bank acquired a new position in shares of Robinhood Markets in the 3rd quarter valued at about $30,000. True Wealth Design LLC acquired a new position in shares of Robinhood Markets in the 3rd quarter valued at about $30,000. ORG Partners LLC acquired a new position in shares of Robinhood Markets in the 2nd quarter valued at about $33,000. Finally, ORG Wealth Partners LLC acquired a new position in shares of Robinhood Markets in the 3rd quarter valued at about $33,000. 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.