Needham & Company LLC Reiterates “Buy” Rating for Robinhood Markets (NASDAQ:HOOD)

Robinhood Markets (NASDAQ:HOOD)‘s stock had its “buy” rating reiterated by research analysts at Needham & Company LLC in a research note issued on Friday,Benzinga reports. They presently have a $145.00 target price on the stock. Needham & Company LLC’s price objective points to a potential upside of 5.78% from the stock’s previous close.

HOOD has been the subject of a number of other research reports. Weiss Ratings restated a “hold (c)” rating on shares of Robinhood Markets in a research report on Monday. Compass Point reiterated a “buy” rating on shares of Robinhood Markets in a research note on Monday, October 27th. Bank of America increased their price target on shares of Robinhood Markets from $139.00 to $157.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. Mizuho raised their price objective on shares of Robinhood Markets from $145.00 to $172.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. Finally, Cantor Fitzgerald boosted their target price on Robinhood Markets from $130.00 to $155.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Robinhood Markets presently has a consensus rating of “Moderate Buy” and a consensus target price of $136.95.

Robinhood Markets Stock Up 2.6%

HOOD opened at $137.08 on Friday. Robinhood Markets has a 52 week low of $29.66 and a 52 week high of $153.86. The business has a 50 day moving average price of $133.09 and a two-hundred day moving average price of $108.96. The company has a market cap of $123.26 billion, a PE ratio of 56.88, a P/E/G ratio of 3.00 and a beta of 2.43.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, November 5th. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.20. Robinhood Markets had a return on equity of 21.74% and a net margin of 52.19%.The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the previous year, the company posted $0.17 earnings per share. The company’s revenue for the quarter was up 100.0% compared to the same quarter last year. As a group, sell-side analysts expect that Robinhood Markets will post 1.35 EPS for the current fiscal year.

Insider Activity at Robinhood Markets

In other news, Director Baiju Bhatt sold 1,330,000 shares of Robinhood Markets stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $128.47, for a total transaction of $170,865,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Vladimir Tenev sold 750,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $139.73, for a total value of $104,797,500.00. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 3,929,294 shares of company stock valued at $502,634,988. 14.47% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in HOOD. Valley National Advisers Inc. grew its holdings in shares of Robinhood Markets by 113.6% during the third quarter. Valley National Advisers Inc. now owns 188 shares of the company’s stock worth $26,000 after buying an additional 100 shares in the last quarter. Golden State Wealth Management LLC lifted its stake in shares of Robinhood Markets by 107.6% during the third quarter. Golden State Wealth Management LLC now owns 191 shares of the company’s stock valued at $27,000 after buying an additional 99 shares during the period. Vision Financial Markets LLC lifted its stake in shares of Robinhood Markets by 100.0% during the third quarter. Vision Financial Markets LLC now owns 200 shares of the company’s stock valued at $29,000 after buying an additional 100 shares during the period. Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in Robinhood Markets during the third quarter worth approximately $29,000. Finally, Guerra Advisors Inc purchased a new stake in Robinhood Markets in the 3rd quarter worth approximately $30,000. Institutional investors and hedge funds 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.