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

Robinhood Markets (NASDAQ:HOOD)‘s stock had its “buy” rating reiterated by equities research analysts at Needham & Company LLC in a note issued to investors on Wednesday,Benzinga reports. They presently have a $135.00 target price on the stock. Needham & Company LLC’s price target would suggest a potential upside of 28.28% from the company’s current price.

Other research analysts have also issued reports about the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Robinhood Markets in a research report on Monday, December 22nd. Zacks Research downgraded Robinhood Markets from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 6th. Morgan Stanley boosted their price target on Robinhood Markets from $146.00 to $147.00 and gave the stock an “equal weight” rating in a research report on Monday, December 22nd. Mizuho increased 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, Barclays dropped their price objective on shares of Robinhood Markets from $171.00 to $159.00 and set an “overweight” rating on the stock in a research note on Thursday, January 8th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Robinhood Markets has an average rating of “Moderate Buy” and a consensus target price of $136.62.

Robinhood Markets Stock Performance

NASDAQ HOOD opened at $105.24 on Wednesday. The firm has a market capitalization of $94.63 billion, a price-to-earnings ratio of 43.67, a PEG ratio of 1.67 and a beta of 2.44. Robinhood Markets has a one year low of $29.66 and a one year high of $153.86. The company’s 50 day moving average price is $118.59 and its 200 day moving average price is $119.98.

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

Insider Activity at Robinhood Markets

In other news, CEO Vladimir Tenev sold 375,000 shares of the company’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $121.63, for a total value of $45,611,250.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Baiju Bhatt sold 1,330,000 shares of Robinhood Markets stock in a transaction on Friday, November 7th. The stock was sold at an average price of $128.47, for a total transaction of $170,865,100.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 2,872,561 shares of company stock valued at $357,470,545 in the last 90 days. 19.95% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Robinhood Markets

A number of large investors have recently bought and sold shares of HOOD. Vanguard Group Inc. raised its position in shares of Robinhood Markets by 24.9% during the 3rd quarter. Vanguard Group Inc. now owns 94,437,054 shares of the company’s stock worth $13,521,497,000 after purchasing an additional 18,824,923 shares during the period. State Street Corp grew its stake in Robinhood Markets by 103.2% during the 3rd quarter. State Street Corp now owns 32,246,155 shares of the company’s stock worth $4,617,004,000 after buying an additional 16,375,734 shares during the last quarter. Geode Capital Management LLC increased its position in Robinhood Markets by 4.0% in the second quarter. Geode Capital Management LLC now owns 13,176,539 shares of the company’s stock worth $1,233,840,000 after buying an additional 507,926 shares during the period. WCM Investment Management LLC lifted its stake in Robinhood Markets by 3,615.7% in the second quarter. WCM Investment Management LLC now owns 11,555,160 shares of the company’s stock valued at $1,081,910,000 after buying an additional 11,244,182 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Robinhood Markets during the second quarter valued at $973,122,000. Institutional investors own 93.27% of the company’s stock.

About Robinhood Markets

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.