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

Robinhood Markets (NASDAQ:HOOD) had its target price upped by research analysts at Needham & Company LLC from $52.00 to $70.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 25.20% from the stock’s current price.

HOOD has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft upped their price target on shares of Robinhood Markets from $36.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Mizuho upped their target price on Robinhood Markets from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. JMP Securities lifted their price target on Robinhood Markets from $33.00 to $40.00 and gave the company a “market outperform” rating in a research report on Tuesday, November 12th. JPMorgan Chase & Co. raised Robinhood Markets from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $20.00 to $43.00 in a research note on Tuesday, January 7th. Finally, Barclays raised their target price on Robinhood Markets from $49.00 to $54.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $51.07.

Robinhood Markets Price Performance

HOOD opened at $55.91 on Thursday. The stock’s 50 day moving average price is $44.48 and its 200 day moving average price is $31.90. The stock has a market cap of $49.42 billion, a P/E ratio of 94.76, a P/E/G ratio of 0.73 and a beta of 2.13. Robinhood Markets has a 12 month low of $11.43 and a 12 month high of $57.27.

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

Insider Activity at Robinhood Markets

In other news, insider Steven M. Quirk sold 19,861 shares of the company’s stock in a transaction dated Sunday, December 1st. The stock was sold at an average price of $37.54, for a total value of $745,581.94. Following the transaction, the insider now owns 395,166 shares in the company, valued at $14,834,531.64. This represents a 4.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Baiju Bhatt sold 186,514 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $38.13, for a total transaction of $7,111,778.82. Following the completion of the transaction, the director now owns 2,521 shares in the company, valued at approximately $96,125.73. This represents a 98.67 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,948,427 shares of company stock worth $165,005,244. 19.95% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Robinhood Markets

Institutional investors have recently modified their holdings of the stock. Toronto Dominion Bank boosted its position in Robinhood Markets by 31.1% during the third quarter. Toronto Dominion Bank now owns 68,408 shares of the company’s stock valued at $1,602,000 after purchasing an additional 16,219 shares during the last quarter. Everence Capital Management Inc. purchased a new stake in shares of Robinhood Markets during the 4th quarter worth about $634,000. Atomi Financial Group Inc. lifted its holdings in shares of Robinhood Markets by 20.7% during the 4th quarter. Atomi Financial Group Inc. now owns 540,910 shares of the company’s stock valued at $20,154,000 after buying an additional 92,613 shares during the last quarter. Requisite Capital Management LLC acquired a new stake in shares of Robinhood Markets during the 4th quarter valued at about $266,000. Finally, Baker Avenue Asset Management LP grew its stake in shares of Robinhood Markets by 77.9% in the 3rd quarter. Baker Avenue Asset Management LP now owns 464,306 shares of the company’s stock valued at $10,874,000 after buying an additional 203,354 shares in the last quarter. 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.