Robinhood Markets (NASDAQ:HOOD) Earns Buy Rating from Needham & Company LLC
Needham & Company LLC reaffirmed a "buy" rating for Robinhood Markets (NASDAQ:HOOD) with a $145.00 price target, indicating a 5.78% potential upside. Other analysts also issued positive ratings, with Cantor Fitzgerald and Barclays raising their price targets. Insider trading activities were noted, with significant stock sales by company insiders. Robinhood's stock opened at $137.08, with a market cap of $123.26 billion. The company reported strong quarterly earnings, beating estimates with $0.61 EPS and $1.27 billion revenue, marking a 100% year-over-year increase.
Robinhood Markets (NASDAQ:HOOD - Get Free Report)'s stock had its "buy" rating restated by equities research analysts at Needham & Company LLC in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $145.00 target price on the stock. Needham & Company LLC's target price indicates a potential upside of 5.78% from the company's previous close.
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Several other brokerages have also issued reports on HOOD. Compass Point reiterated a "buy" rating on shares of Robinhood Markets in a research note on Monday, October 27th. Cantor Fitzgerald upped their price objective on shares of Robinhood Markets from $130.00 to $155.00 and gave the stock an "overweight" rating in a report on Thursday, November 6th. Barclays lifted their target price on shares of Robinhood Markets from $162.00 to $168.00 and gave the company an "overweight" rating in a report on Thursday, November 6th. Zacks Research raised Robinhood Markets from a "hold" rating to a "strong-buy" rating in a research report on Friday, November 28th. Finally, JMP Securities upped their price target on Robinhood Markets from $130.00 to $170.00 and gave the stock a "market outperform" rating in a research note on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $136.95.
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Robinhood Markets Stock Up 2.6%
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NASDAQ HOOD opened at $137.08 on Friday. The firm has a market capitalization of $123.26 billion, a PE ratio of 56.88, a P/E/G ratio of 3.00 and a beta of 2.43. The stock's 50 day moving average is $133.09 and its 200 day moving average is $108.96. Robinhood Markets has a twelve month low of $29.66 and a twelve month high of $153.86.
Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.41 by $0.20. The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.15 billion. Robinhood Markets had a return on equity of 21.74% and a net margin of 52.19%.The company's revenue for the quarter was up 100.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.17 earnings per share. On average, research analysts anticipate that Robinhood Markets will post 1.35 earnings per share for the current year.
Insider Transactions at Robinhood Markets
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In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 50,000 shares of the business's stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $121.33, for a total transaction of $6,066,500.00. Following the completion of the sale, the insider directly owned 480,949 shares in the company, valued at $58,353,542.17. The trade was a 9.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Steven M. Quirk sold 48,350 shares of the company's stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $140.61, for a total transaction of $6,798,493.50. Following the sale, the insider directly owned 70,279 shares of the company's stock, valued at $9,881,930.19. The trade was a 40.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 3,929,294 shares of company stock valued at $502,634,988 over the last 90 days. 14.47% of the stock is owned by corporate insiders.
Institutional Trading of Robinhood Markets
Several hedge funds have recently bought and sold shares of HOOD. Valley National Advisers Inc. grew its stake in Robinhood Markets by 113.6% during the 3rd quarter. Valley National Advisers Inc. now owns 188 shares of the company's stock worth $26,000 after buying an additional 100 shares during the last quarter. Golden State Wealth Management LLC boosted its holdings in shares of Robinhood Markets by 107.6% in the third quarter. Golden State Wealth Management LLC now owns 191 shares of the company's stock valued at $27,000 after acquiring an additional 99 shares during the period. Vision Financial Markets LLC boosted its holdings in shares of Robinhood Markets by 100.0% in the third quarter. Vision Financial Markets LLC now owns 200 shares of the company's stock valued at $29,000 after acquiring an additional 100 shares during the period. Stonehage Fleming Financial Services Holdings Ltd purchased a new position in shares of Robinhood Markets during the third quarter worth approximately $29,000. Finally, Guerra Advisors Inc acquired a new position in shares of Robinhood Markets in the 3rd quarter valued at $30,000. Institutional investors own 93.27% of the company's stock.
About Robinhood Markets
(Get Free Report)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.
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