Robinhood Markets Inc(NASDAQ:HOOD) shares are trading higher Monday. Needham upgraded the stock to Buy as the firm believes the company stands to materially benefit fromDonald Trump'selection win.

What To Know:Needham analyst John Todaro upgraded Robinhood from Hold to Buy on Monday and set a price target of $40, citing tailwinds from Trump's return to the White House primarily due to changes at the U.S. Securities and Exchange Commission.

The Needham analyst expects SEC chairGary Gensler to resign in the coming weeks as Trump turns to a more pro-crypto chairperson. Gensler is...