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

Robinhood Markets (NASDAQ:HOOD) had its price objective hoisted by Needham & Company LLC from $120.00 to $145.00 in a report released on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Other analysts also recently issued research reports about the stock. Cantor Fitzgerald increased their target price on shares of Robinhood Markets from $100.00 to $118.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. Compass Point increased their price objective on shares of Robinhood Markets from $64.00 to $96.00 and gave the stock a “buy” rating in a research report on Friday, June 27th. KeyCorp raised their target price on shares of Robinhood Markets from $60.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, July 1st. Barclays upped their price target on shares of Robinhood Markets from $102.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. Finally, Morgan Stanley increased their price target on Robinhood Markets from $43.00 to $110.00 and gave the company an “equal weight” rating in a report on Tuesday, July 15th. Twelve research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $113.59.

Robinhood Markets Trading Up 4.7%

Shares of Robinhood Markets stock opened at $145.70 on Tuesday. Robinhood Markets has a twelve month low of $22.05 and a twelve month high of $146.70. The stock has a market capitalization of $129.48 billion, a P/E ratio of 73.96, a PEG ratio of 4.87 and a beta of 2.42. The business’s fifty day moving average price is $113.58 and its 200 day moving average price is $81.58.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.30 by $0.12. The company had revenue of $989.00 million during the quarter, compared to analyst estimates of $893.93 million. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%.The firm’s revenue was up 45.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.21 earnings per share. As a group, sell-side analysts predict that Robinhood Markets will post 1.35 EPS for the current year.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, insider Steven M. Quirk sold 60,113 shares of the firm’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $100.91, for a total transaction of $6,066,002.83. Following the completion of the sale, the insider owned 94,454 shares in the company, valued at $9,531,353.14. This trade represents a 38.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $100.92, for a total value of $2,523,000.00. Following the completion of the transaction, the insider directly owned 610,949 shares in the company, valued at approximately $61,656,973.08. The trade was a 3.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,906,462 shares of company stock valued at $509,427,417. 14.47% of the stock is currently owned by insiders.

Institutional Trading of Robinhood Markets

Several institutional investors have recently added to or reduced their stakes in the stock. Whipplewood Advisors LLC grew its holdings 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 acquiring an additional 508 shares in the last quarter. Hantz Financial Services Inc. increased its holdings in Robinhood Markets by 120.3% in the second quarter. Hantz Financial Services Inc. now owns 271 shares of the company’s stock valued at $25,000 after buying an additional 148 shares during the last quarter. Hemington Wealth Management raised its stake in Robinhood Markets by 52.2% during the first quarter. Hemington Wealth Management now owns 636 shares of the company’s stock valued at $26,000 after buying an additional 218 shares in the last quarter. Smithfield Trust Co bought a new position in Robinhood Markets during the 2nd quarter worth approximately $29,000. Finally, Wayfinding Financial LLC acquired a new position in shares of Robinhood Markets in the 1st quarter worth approximately $30,000. 93.27% of the stock is owned by institutional investors and hedge funds.

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.