Needham & Company LLC Issues Positive Forecast for Robinhood Markets (NASDAQ:HOOD) Stock Price

Robinhood Markets (NASDAQ:HOOD) had its price target upped by Needham & Company LLC from $52.00 to $70.00 in a research note released on Thursday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

HOOD has been the subject of a number of other research reports. Barclays boosted their price target on Robinhood Markets from $49.00 to $54.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. KeyCorp upped their target price on Robinhood Markets from $50.00 to $57.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Sanford C. Bernstein lifted their price target on shares of Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. The Goldman Sachs Group raised shares of Robinhood Markets from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $40.00 to $46.00 in a report on Friday, December 6th. Finally, Raymond James assumed coverage on shares of Robinhood Markets in a report on Wednesday, February 5th. They issued a “market perform” rating on the stock. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $58.07.

Robinhood Markets Stock Performance

Shares of NASDAQ HOOD opened at $65.28 on Thursday. The stock has a market cap of $57.71 billion, a price-to-earnings ratio of 110.65, a PEG ratio of 0.73 and a beta of 2.13. The business has a 50 day simple moving average of $45.45 and a 200 day simple moving average of $32.52. Robinhood Markets has a 52 week low of $13.04 and a 52 week high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.41 by $0.13. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. On average, analysts predict that Robinhood Markets will post 0.97 EPS for the current year.

Insider Activity

In related news, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $37.92, for a total transaction of $222,817.92. Following the completion of the transaction, the chief technology officer now owns 11,752 shares in the company, valued at $445,635.84. This trade represents a 33.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Steven M. Quirk sold 19,861 shares of the company’s stock in a transaction on Sunday, December 1st. The shares were sold at an average price of $37.54, for a total value of $745,581.94. Following the completion of the sale, the insider now owns 395,166 shares in the company, valued at $14,834,531.64. This trade represents a 4.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,948,427 shares of company stock worth $165,005,244. Corporate insiders own 19.95% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

Several institutional investors and hedge funds have recently made changes to their positions in the company. New Wave Wealth Advisors LLC acquired a new stake in shares of Robinhood Markets during the 4th quarter worth about $26,000. Creative Financial Designs Inc. ADV raised its stake in shares of Robinhood Markets by 750.0% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock valued at $32,000 after acquiring an additional 750 shares during the last quarter. Silicon Valley Capital Partners acquired a new position in shares of Robinhood Markets in the 4th quarter worth approximately $37,000. Bogart Wealth LLC bought a new stake in Robinhood Markets during the 4th quarter worth approximately $37,000. Finally, Coppell Advisory Solutions LLC acquired a new stake in Robinhood Markets during the 4th quarter valued at $41,000. Institutional investors and hedge funds 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.