Robinhood Markets (NASDAQ:HOOD) Receives “Buy” Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Robinhood Markets (NASDAQ:HOOD) in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a $145.00 target price on the stock.

HOOD has been the subject of several other research reports. Compass Point restated a “buy” rating on shares of Robinhood Markets in a report on Monday, October 27th. Zacks Research downgraded Robinhood Markets from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 30th. CICC Research began coverage on shares of Robinhood Markets in a research report on Monday, October 27th. They issued an “outperform” rating and a $155.00 price target on the stock. Morgan Stanley upped their price target on shares of Robinhood Markets from $110.00 to $146.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 1st. Finally, Piper Sandler reissued an “overweight” rating on shares of Robinhood Markets in a research note on Wednesday. Fourteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $136.95.

Robinhood Markets Stock Performance

HOOD opened at $128.20 on Wednesday. The stock has a market capitalization of $115.28 billion, a price-to-earnings ratio of 53.20, a PEG ratio of 2.60 and a beta of 2.42. Robinhood Markets has a fifty-two week low of $29.66 and a fifty-two week high of $153.86. The company has a fifty day moving average of $132.48 and a 200 day moving average of $106.41.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.41 by $0.20. The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.15 billion. Robinhood Markets had a net margin of 52.19% and a return on equity of 21.74%. The business’s revenue was up 100.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.17 EPS. On average, equities research analysts forecast that Robinhood Markets will post 1.35 earnings per share for the current year.

Insider Activity

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the business’s stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $148.34, for a total transaction of $3,708,500.00. Following the transaction, the insider owned 565,949 shares in the company, valued at $83,952,874.66. The trade was a 4.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $139.73, for a total transaction of $104,797,500.00. The SEC filing for this sale provides additional information. Insiders sold 3,970,272 shares of company stock valued at $505,742,993 over the last ninety days. 14.47% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. CIBC Bancorp USA Inc. purchased a new stake in shares of Robinhood Markets in the third quarter worth approximately $15,056,000. Tcfg Wealth Management LLC boosted its holdings in Robinhood Markets by 35.0% during the 3rd quarter. Tcfg Wealth Management LLC now owns 3,626 shares of the company’s stock valued at $519,000 after acquiring an additional 941 shares during the period. WBI Investments LLC bought a new position in Robinhood Markets in the 3rd quarter valued at $1,431,000. Centaurus Financial Inc. increased its stake in Robinhood Markets by 1.8% in the third quarter. Centaurus Financial Inc. now owns 13,025 shares of the company’s stock worth $1,865,000 after purchasing an additional 234 shares during the period. Finally, Caerus Investment Advisors LLC bought a new stake in shares of Robinhood Markets during the third quarter worth $264,000. Hedge funds and other institutional investors 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.