On September 3, Robinhood rose 3.07% overnight, trading at $110.22/share, with turnover of $18.6364 million. The rally was driven by a wave of bullish analyst actions, headlined by Morgan Stanley's double upgrade and Piper Sandler's price target increase.
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 users have surpassed 2 million, contributing $156 million in Q2 revenue — now exceeding its crypto trading business. Cyprys noted that broader product capabilities are improving the economics of Robinhood's existing customer base, prompting a 12%-15% upward revision to earnings estimates for the next three years.
Separately, Piper Sandler raised its price target on Robinhood from $135 to $145 while maintaining an Overweight rating. The consensus analyst target now stands at approximately $126.64. Meanwhile, Robinhood Chain's ecosystem continues to gain traction, with TVL surpassing $1 billion and cumulative fee revenue reaching $5 million within two months of launch.
(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.)
Comments