This Robinhood Analyst Raises Forecast By 17% On Retail Trading and Crypto Expansion - Here's Why
HOODRobinhood(HOOD) Benzinga·2024-09-20 02:42

Robinhood Markets Inc HOOD stock is up after Piper Sandler analyst Patrick Moley maintained an Overweight rating and raised its price target from 23to23 to 27.The re-rating follows the 50 bps Fed rate cut, with Moley reiterating that the second-order effects of Fed rate cuts on margin balance growth and overall retail trading activity will be enough to offset the negative impact of lower rates.The price target reflects seven times the analyst’s 2026 revenue estimate (up from 6 times previously to reflect rece ...