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

Robinhood Markets (NASDAQ:HOOD) had its target price hoisted by analysts at Needham & Company LLC from $97.00 to $123.00 in a research report issued on Tuesday, MarketBeat reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price target points to a potential upside of 23.89% from the stock’s previous close.

HOOD has been the topic of a number of other reports. Morgan Stanley raised their price target on Robinhood Markets from $95.00 to $124.00 and gave the company an “equal weight” rating in a report on Friday, July 10th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $110.00 price objective on shares of Robinhood Markets in a report on Tuesday, June 9th. Argus upped their price objective on shares of Robinhood Markets from $90.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, June 17th. Wall Street Zen upgraded shares of Robinhood Markets from a “strong sell” rating to a “sell” rating in a research report on Sunday, July 12th. Finally, Mizuho raised their target price on shares of Robinhood Markets from $115.00 to $130.00 and gave the company an “outperform” rating in a research note on Thursday, July 2nd. Twenty-one equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $121.13.

Robinhood Markets Price Performance

Shares of HOOD stock opened at $99.28 on Tuesday. Robinhood Markets has a 12-month low of $63.51 and a 12-month high of $153.86. The firm has a market capitalization of $89.40 billion, a price-to-earnings ratio of 47.96, a price-to-earnings-growth ratio of 2.11 and a beta of 2.33. The business has a 50 day simple moving average of $94.63 and a 200 day simple moving average of $88.77.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Tuesday, April 28th. The company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.01). The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.14 billion. Robinhood Markets had a net margin of 41.12% and a return on equity of 21.39%. The firm’s revenue was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.37 earnings per share. On average, equities analysts anticipate that Robinhood Markets will post 1.86 EPS for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In other news, CEO Vladimir Tenev sold 375,000 shares of the firm’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $116.17, for a total transaction of $43,563,750.00. Following the completion of the transaction, the chief executive officer owned 375,000 shares in the company, valued at approximately $43,563,750. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Baiju Bhatt sold 67,422 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $75.38, for a total transaction of $5,082,270.36. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have purchased 680,000 shares of company stock valued at $55,306,560 and have sold 587,875 shares valued at $62,602,915. Corporate insiders own 13.48% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

A number of institutional investors and hedge funds have recently modified their holdings of the stock. CYBER HORNET ETFs LLC grew its holdings in shares of Robinhood Markets by 527.8% in the 4th quarter. CYBER HORNET ETFs LLC now owns 226 shares of the company’s stock worth $26,000 after acquiring an additional 190 shares during the last quarter. MV Capital Management Inc. acquired a new position in shares of Robinhood Markets in the 4th quarter valued at $27,000. Swiss RE Ltd. purchased a new position in Robinhood Markets in the 4th quarter worth about $27,000. Elyxium Wealth LLC acquired a new stake in Robinhood Markets during the 4th quarter worth about $27,000. Finally, Sound Income Strategies LLC raised its holdings in Robinhood Markets by 152.6% during the 4th quarter. Sound Income Strategies LLC now owns 240 shares of the company’s stock worth $26,000 after buying an additional 145 shares during the period. Institutional investors and hedge funds own 93.27% of the company’s stock.

Key Headlines Impacting Robinhood Markets

Here are the key news stories impacting Robinhood Markets this week:

• Positive Sentiment: Bernstein raised its price target on Robinhood Markets (NASDAQ: HOOD) to $160 from $130 and reiterated an Outperform rating, citing upside from retail-trading trends and prediction markets. Analyst raises Robinhood price target in a bold new call
• Positive Sentiment: Another Bernstein-related report said Robinhood’s prediction markets could become a roughly $1.7 billion business, reinforcing the market’s view that new products could add a major growth leg to the company. HOOD Stock Gains After Bernstein Says Prediction Markets Could Become A $1.7B Business For Robinhood
• Positive Sentiment: Interest in Robinhood-linked meme coin trading and broader crypto activity is keeping Robinhood in the spotlight, which may be adding sentiment support for the stock. Trader Turns $80,000 Into $1.25 Million on Robinhood-Linked Meme Coin
• Neutral Sentiment: Robinhood is drawing attention ahead of second-quarter earnings on July 29, with some traders positioning for volatility and using options strategies that reflect uncertainty around results. This Trade Can Work If Robinhood Turns Lower With Earnings On Deck
• Negative Sentiment: One options-focused article suggested the stock could turn lower into earnings, signaling some investors are hedging against a disappointing report. This Trade Can Work If Robinhood Turns Lower With Earnings On Deck

Robinhood Markets Company Profile

Robinhood Markets, Inc (NASDAQ: HOOD) is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to “democratize finance for all.” Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood’s core products and services include a mobile app and web platform for trading U.S.