Robinhood Markets (NASDAQ:HOOD) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

Robinhood Markets (NASDAQ:HOOD) had its price target upped by analysts at Needham & Company LLC from $58.00 to $71.00 in a note issued to investors on Wednesday,Briefing.com Automated Import reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s target price indicates a potential upside of 13.47% from the company’s current price.

A number of other equities analysts also recently issued reports on HOOD. Cantor Fitzgerald dropped their price objective on shares of Robinhood Markets from $62.00 to $60.00 and set an “overweight” rating on the stock in a research note on Thursday, May 1st. JPMorgan Chase & Co. upped their target price on Robinhood Markets from $44.00 to $47.00 and gave the stock a “neutral” rating in a report on Thursday, May 1st. Mizuho lifted their price target on Robinhood Markets from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Morgan Stanley upped their price objective on Robinhood Markets from $40.00 to $43.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Finally, Wolfe Research downgraded Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, February 18th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Robinhood Markets has a consensus rating of “Moderate Buy” and an average price target of $54.18.

Robinhood Markets Trading Up 9.0%

Shares of HOOD stock opened at $62.57 on Wednesday. Robinhood Markets has a twelve month low of $13.98 and a twelve month high of $66.91. The stock has a fifty day simple moving average of $43.92 and a two-hundred day simple moving average of $42.96. The stock has a market capitalization of $55.40 billion, a price-to-earnings ratio of 39.85, a P/E/G ratio of 1.05 and a beta of 2.15.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.37 earnings per share 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 business had revenue of $927.00 million during the quarter, compared to analysts’ expectations of $917.12 million. During the same period last year, the company earned $0.18 earnings per share. The firm’s revenue was up 50.0% compared to the same quarter last year. Research analysts predict that Robinhood Markets will post 1.35 EPS for the current fiscal year.

Insider Buying and Selling

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $60.77, for a total transaction of $3,038,500.00. Following the completion of the transaction, the insider now directly owns 706,642 shares of the company’s stock, valued at approximately $42,942,634.34. This trade represents a 6.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Baiju Bhatt sold 94,156 shares of Robinhood Markets stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $55.34, for a total transaction of $5,210,593.04. Following the sale, the director now owns 7,863 shares of the company’s stock, valued at approximately $435,138.42. The trade was a 92.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,362,194 shares of company stock worth $116,234,743 in the last three months. Corporate insiders own 14.47% of the company’s stock.

Institutional Trading of Robinhood Markets

A number of hedge funds and other institutional investors have recently made changes to their positions in HOOD. Whipplewood Advisors LLC grew its position in Robinhood Markets by 564.4% during the 1st quarter. Whipplewood Advisors LLC now owns 598 shares of the company’s stock worth $25,000 after purchasing an additional 508 shares during the period. Hemington Wealth Management boosted its stake in shares of Robinhood Markets by 52.2% in the first quarter. Hemington Wealth Management now owns 636 shares of the company’s stock worth $26,000 after buying an additional 218 shares during the last quarter. New Wave Wealth Advisors LLC acquired a new stake in Robinhood Markets during the fourth quarter worth about $26,000. Wayfinding Financial LLC purchased a new position in Robinhood Markets during the first quarter valued at approximately $30,000. Finally, Pandora Wealth Inc. acquired a new position in Robinhood Markets in the first quarter valued at approximately $33,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

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.