Needham & Company LLC Lowers Robinhood Markets (NASDAQ:HOOD) Price Target to $120.00

Robinhood Markets (NASDAQ:HOOD) had its price objective cut by equities researchers at Needham & Company LLC from $123.00 to $120.00 in a report released on Thursday, MarketBeat reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s target price would suggest a potential upside of 38.63% from the stock’s current price.

Several other analysts have also recently commented on the stock. Barclays decreased their price target on shares of Robinhood Markets from $122.00 to $105.00 and set an “overweight” rating on the stock in a research note on Thursday. Jefferies Financial Group dropped their price objective on shares of Robinhood Markets from $88.00 to $84.00 and set a “buy” rating for the company in a research report on Monday, April 6th. Citizens Jmp reaffirmed a “market outperform” rating and set a $155.00 price objective on shares of Robinhood Markets in a report on Thursday, May 28th. BTIG Research reiterated a “buy” rating and issued a $125.00 price objective on shares of Robinhood Markets in a research report on Thursday, July 2nd. Finally, Citigroup reissued a “market outperform” rating on shares of Robinhood Markets in a research note on Thursday, May 28th. Twenty-one analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Robinhood Markets presently has a consensus rating of “Moderate Buy” and a consensus price target of $120.30.

Robinhood Markets Stock Performance

Robinhood Markets stock opened at $86.56 on Thursday. The stock has a 50-day simple moving average of $98.02 and a 200 day simple moving average of $87.63. The stock has a market capitalization of $77.95 billion, a price-to-earnings ratio of 38.13, a P/E/G ratio of 1.72 and a beta of 2.33. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.23. Robinhood Markets has a 12-month low of $63.51 and a 12-month high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.18. The firm had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.29 billion. Robinhood Markets had a net margin of 42.01% and a return on equity of 22.43%. The company’s revenue was up 32.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.42 EPS. On average, research analysts anticipate that Robinhood Markets will post 1.98 earnings per share for the current fiscal year.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 375,000 shares of Robinhood Markets stock in a transaction on Monday, July 6th. The shares were sold at an average price of $116.17, for a total transaction of $43,563,750.00. Following the completion of the sale, the chief executive officer owned 375,000 shares of the company’s stock, valued at approximately $43,563,750. The trade was a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Steven M. Quirk sold 19,377 shares of the company’s stock in a transaction 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 sale, the insider owned 62,612 shares of the company’s stock, valued at $7,510,935.52. The trade was a 23.63% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders purchased 680,000 shares of company stock valued at $55,306,560 and sold 631,263 shares valued at $66,793,857. Insiders own 13.48% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Robinhood Markets by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 95,771,497 shares of the company’s stock worth $10,831,756,000 after buying an additional 1,334,443 shares during the period. State Street Corp increased its stake in shares of Robinhood Markets by 2.7% in the 4th quarter. State Street Corp now owns 33,121,452 shares of the company’s stock valued at $3,746,036,000 after acquiring an additional 875,297 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Robinhood Markets by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 21,171,925 shares of the company’s stock valued at $2,386,944,000 after acquiring an additional 356,902 shares during the period. Morgan Stanley raised its position in shares of Robinhood Markets by 23.9% in the 4th quarter. Morgan Stanley now owns 10,683,776 shares of the company’s stock valued at $1,208,335,000 after acquiring an additional 2,061,832 shares during the period. Finally, Norges Bank bought a new position in Robinhood Markets during the 4th quarter worth approximately $1,202,160,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Trending Headlines about Robinhood Markets

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

• Positive Sentiment: Q2 earnings beat expectations: Robinhood reported adjusted earnings of $0.62 per share versus the $0.44 consensus estimate, while revenue rose 32.5% year over year to a record $1.31 billion, slightly above expectations. Robinhood Markets Q2 Earnings and Revenues Top Estimates
• Positive Sentiment: Business diversification accelerated: Prediction-market revenue reached $156 million, overtaking crypto revenue of $100 million. Management called event markets the company’s fastest-growing business, reducing HOOD’s reliance on cryptocurrency activity. Robinhood Beats Estimates as Prediction Markets Overtake Crypto
• Positive Sentiment: Customer and platform growth remained strong: Robinhood added nearly 1 million funded customers during the quarter—its largest increase in almost five years—and reported record trading volumes, platform assets and Gold subscribers. A reported boost from the anticipated SpaceX IPO also supported account growth. SpaceX IPO Helped Robinhood Add Nearly 1 Million Customers
• Positive Sentiment: Analysts still see substantial upside: Bernstein raised its price target to $160 and cited prediction markets as a potential growth driver, while Citizens JMP maintained an outperform rating with a $155 target. Bernstein Raised Robinhood Price Target
• Neutral Sentiment: CEO Vlad Tenev said the administration is crypto-friendly but argued that clearer, durable U.S. regulation is needed to prevent policy uncertainty from changing every four years. Robinhood CEO Discusses Crypto Regulation
• Negative Sentiment: Crypto weakness and valuation concerns pressured the stock: Crypto revenue fell 38% year over year, while investors questioned the sustainability of a one-time accounting benefit and rising expenses. Analysts also cited a meaningful slowdown in new accounts during July; Barclays cut its target to $105, and Goldman Sachs lowered its target to $118 while retaining a buy rating. HOOD Q2 Earnings Beat but Stock Dips

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.