Robinhood Markets (NASDAQ:HOOD) Stock Rating Reaffirmed by Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Robinhood Markets (NASDAQ:HOOD) in a research note issued to investors on Thursday, Benzinga reports.

Several other equities analysts have also commented on the company. Wolfe Research upgraded Robinhood Markets from a peer perform rating to an outperform rating and set a $29.00 target price for the company in a research note on Wednesday, June 26th. The Goldman Sachs Group upped their price objective on shares of Robinhood Markets from $19.00 to $21.00 and gave the company a neutral rating in a research note on Thursday, July 11th. JMP Securities reissued a market outperform rating and issued a $30.00 target price on shares of Robinhood Markets in a research report on Friday, June 7th. Mizuho boosted their target price on shares of Robinhood Markets from $20.00 to $21.00 and gave the company a buy rating in a report on Monday, May 6th. Finally, Citigroup raised shares of Robinhood Markets from a sell rating to a neutral rating and set a $18.00 price target on the stock in a research note on Monday, August 5th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Robinhood Markets currently has an average rating of Hold and an average target price of $21.70.

Robinhood Markets Price Performance

Robinhood Markets stock opened at $17.92 on Thursday. The firm’s 50-day moving average is $21.73 and its two-hundred day moving average is $18.42. The stock has a market capitalization of $15.75 billion, a P/E ratio of 119.47 and a beta of 1.83. Robinhood Markets has a 12-month low of $7.91 and a 12-month high of $24.88.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, August 7th. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.05. The firm had revenue of $682.00 million for the quarter, compared to analyst estimates of $640.39 million. Robinhood Markets had a net margin of 6.22% and a return on equity of 1.86%. Robinhood Markets’s revenue was up 40.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.03 earnings per share. As a group, analysts forecast that Robinhood Markets will post 0.57 EPS for the current year.

Insider Buying and Selling

In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $16.05, for a total value of $4,012,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Robinhood Markets news, Director Baiju Bhatt sold 16,667 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $18.27, for a total transaction of $304,506.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Vladimir Tenev sold 250,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $16.05, for a total value of $4,012,500.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,247,913 shares of company stock valued at $25,680,423. Corporate insiders own 19.95% of the company’s stock.

Institutional Trading of Robinhood Markets

A number of hedge funds and other institutional investors have recently made changes to their positions in HOOD. Spire Wealth Management bought a new position in Robinhood Markets during the 4th quarter valued at $26,000. PNC Financial Services Group Inc. grew its stake in Robinhood Markets by 46.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock worth $29,000 after purchasing an additional 722 shares in the last quarter. ORG Partners LLC bought a new stake in Robinhood Markets in the second quarter valued at about $33,000. Allspring Global Investments Holdings LLC acquired a new stake in Robinhood Markets during the first quarter valued at approximately $34,000. Finally, International Assets Investment Management LLC bought a new position in Robinhood Markets during the 2nd quarter worth approximately $40,000. Institutional investors 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.