Robinhood shares jump nearly 17% as analysts raise price targets to $145 and $150
Robinhood Markets stock surged almost 17% on Thursday, driven by renewed analyst optimism about its prediction-market revenue. Three major brokerages increased their valuations, with Piper Sandler setting a new target of $145 and Morgan Stanley aiming for $150.
Shares of Robinhood Markets jumped nearly 17% on Thursday, making it one of the strongest performers in the S&P 500. The rally coincided with increased bullish sentiment from Wall Street analysts regarding the fintech platform's prediction-market business. Deutsche Bank identified prediction markets as a significant growth opportunity, noting that financial and event-based contracts are gaining broader investor acceptance. Scotiabank initiated coverage of Robinhood with an Outperform rating and established a price target of $136. The firm suggested investors may be overvaluing the company as a traditional retail broker while underestimating its expanding revenue streams from stable markets. Piper Sandler raised its price target to $145 from $135, maintaining an Overweight rating. Analyst Patrick Moley expects prediction-market activity to accelerate as the NFL and NCAA football seasons begin, predicting meaningful additional revenue. Morgan Stanley upgraded Robinhood to an Overweight rating from Equal-Weight and increased its price target to $150.
