Robinhood Stock Surges Amid Analyst Upgrades
Robinhood (HOOD) shares surged nearly 17% to just under $125 on Thursday, making it the top performer in the S&P 500. The rally was driven by a broader market upturn and rising bitcoin prices near $81,500. Other crypto-related stocks like Coinbase (COIN), Mara Holdings (MARA), and MicroStrategy (MSTR) also saw gains. Wall Street analysts have recently upgraded Robinhood's stock outlook, citing its expanded product offerings and growing revenue from prediction markets tied to the upcoming NFL and NCAA football seasons. Morgan Stanley raised their price target to $150 with an 'overweight' rating, while Scotiabank initiated coverage with a $136 'outperform' rating. Piper Sandler also increased its target to $145.
Tickers: $COIN $HOOD $MARA $MS $MSTR
Topics: Bitcoin HOOD stock Robinhood S&P 500 Wall Street analysts