On September 2, Robinhood rose 3.1% in regular trading, trading at $106.7 USD/share, with turnover of $484 million. The rally was driven by a wave of bullish analyst actions, headlined by Morgan Stanley's double upgrade of the stock.
Morgan Stanley analyst Michael Cyprys upgraded Robinhood from Equalweight to Overweight and raised the price target from $124 to $150, citing the company's prediction market business as a key validation of its revenue expansion potential. Robinhood's prediction market segment generated $156 million in Q2 revenue, surpassing its cryptocurrency trading business, with over 2 million users on the platform. The analyst noted the new business line is also driving cross-product adoption among users.
Separately, Piper Sandler raised its price target on Robinhood from $135 to $145 while maintaining an Overweight rating. The current analyst consensus target stands at approximately $126.64. Investors are also watching Robinhood's upcoming corporate event scheduled for September 29-30, where further details on new products and strategic direction may be disclosed.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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