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

Robinhood Markets (NASDAQ:HOOD)‘s stock had its “hold” rating reaffirmed by equities researchers at Needham & Company LLC in a research report issued to clients and investors on Monday, Benzinga reports.

Several other analysts have also recently weighed in on the company. Barclays lifted their price target on Robinhood Markets from $11.00 to $16.00 and gave the stock an “underweight” rating in a report on Monday, April 8th. Mizuho lifted their price target on Robinhood Markets from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Monday. The Goldman Sachs Group lifted their price target on Robinhood Markets from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Monday, April 15th. Piper Sandler lifted their price target on Robinhood Markets from $12.50 to $17.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Finally, TheStreet upgraded Robinhood Markets from a “d+” rating to a “c-” rating in a research note on Wednesday, February 28th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Robinhood Markets has a consensus rating of “Hold” and an average price target of $18.96.

Robinhood Markets Stock Up 1.2 %

HOOD opened at $17.99 on Monday. Robinhood Markets has a 12-month low of $7.91 and a 12-month high of $20.55. The stock has a market cap of $15.73 billion, a price-to-earnings ratio of -29.98 and a beta of 1.74. The business has a 50 day moving average of $17.75 and a 200-day moving average of $13.31.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Tuesday, February 13th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.04. The company had revenue of $471.00 million during the quarter, compared to analysts’ expectations of $454.73 million. Robinhood Markets had a negative return on equity of 7.87% and a negative net margin of 29.01%. The business’s revenue was up 23.9% on a year-over-year basis. During the same period last year, the firm posted ($0.19) earnings per share. As a group, analysts expect that Robinhood Markets will post 0.29 earnings per share for the current year.

Insider Activity

In other news, CFO Jason Warnick sold 5,000 shares of Robinhood Markets stock in a transaction on Monday, February 12th. The stock was sold at an average price of $12.00, for a total value of $60,000.00. Following the transaction, the chief financial officer now owns 916,267 shares in the company, valued at approximately $10,995,204. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CFO Jason Warnick sold 5,000 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $12.00, for a total transaction of $60,000.00. Following the sale, the chief financial officer now owns 916,267 shares of the company’s stock, valued at approximately $10,995,204. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Baiju Bhatt sold 188,077 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $13.57, for a total value of $2,552,204.89. Following the sale, the insider now directly owns 36,045 shares in the company, valued at approximately $489,130.65. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,163,026 shares of company stock worth $34,444,767. Insiders own 20.81% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

Several hedge funds have recently modified their holdings of the company. PNC Financial Services Group Inc. boosted its holdings in shares of Robinhood Markets by 46.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock valued at $29,000 after acquiring an additional 722 shares in the last quarter. Commerce Bank lifted its holdings in Robinhood Markets by 7.9% during the 4th quarter. Commerce Bank now owns 12,459 shares of the company’s stock worth $159,000 after buying an additional 917 shares during the period. DekaBank Deutsche Girozentrale lifted its holdings in Robinhood Markets by 4.7% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 23,642 shares of the company’s stock worth $310,000 after buying an additional 1,060 shares during the period. Whittier Trust Co. lifted its holdings in Robinhood Markets by 25.8% during the 1st quarter. Whittier Trust Co. now owns 5,828 shares of the company’s stock worth $117,000 after buying an additional 1,194 shares during the period. Finally, Treasurer of the State of North Carolina lifted its holdings in Robinhood Markets by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 291,573 shares of the company’s stock worth $2,860,000 after buying an additional 1,480 shares during the period. Institutional investors and hedge funds own 93.27% of the company’s stock.

About Robinhood Markets

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.