Robinhood Markets Inc. HOOD just got a significant vote of confidence from Wolfe Research analyst Steven Chubak, who upgraded the stock from Peer Perform to Outperform, citing strong growth prospects and a durable earnings trajectory. The upgrade follows an insightful meeting with CFO Jason Warnick, which bolstered Chubak's bullish stance on the stock.
Robinhood Markets Inc (NASDAQ:HOOD) stock is 3.6% higher before the opening bell, after Wolfe Research upgraded the online trading platform to "outperform" from "peer perform" with a $29 price target.
Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades, downgrades and initiations, please see our analyst ratings page.
After reaching an important support level, Robinhood Markets, Inc. (HOOD) could be a good stock pick from a technical perspective. HOOD surpassed resistance at the 20-day moving average, suggesting a short-term bullish trend.
Zacks.com users have recently been watching Robinhood Markets (HOOD) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
The latest trading day saw Robinhood Markets, Inc. (HOOD) settling at $21.73, representing a -0.59% change from its previous close.
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Robinhood Markets Inc. (HOOD) is a California-based financial technology (fintech) company that operates an online discount brokerage with commission-free trading. Using its web- and mobile- based platforms, investors can buy and sell stocks, exchange-traded funds (ETFs), options, and American depositary receipts (ADRs).
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Will 24-hour trading be common before we know it?
Robinhood's revenue and profitability are soaring due to increased trading activity and net deposits. The company has benefited in particular by a ~3x y/y jump in crypto trading, where it earns a rich spread. These trends continued into the start of Q2 in May. Robinhood also just launched in the UK at the end of Q1, fueling a brand-new market opportunity for the company.