Robinhood Markets (HOOD), the up-and-coming investing app, is no longer a newcomer and will soon join the S&P 500 (SPY), replacing Caesars Entertainment (CZR). The move, announced by S&P Dow Jones Indices, will take effect before the market opens on September 22. The expected entrance shows how Robinhood has moved from a pandemic trading app to a steady player in U.S. finance.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
This new development will only increase HOOD’s exposure, as inclusion in the S&P 500 often leads to a rise in demand for a company’s stock. That is because index funds and exchange-traded funds that track the benchmark must buy the shares. As a result, Robinhood stock rose 6% in extended trading after the news.
What it means for Robinhood
As of September 2025, Robinhood shares have climbed over 170% year-to-date, resulting in a market value of approximately $91.5 billion, according to LSEG data. The company is known for cutting commissions to zero and for bringing in a new wave of retail investors through its mobile app. Now, its spot in the index signals more stability and credibility in the eyes of many institutions.
Alongside Robinhood, other changes in the S&P 500 index were also announced. AppLovin (APP) will replace MarketAxess Holdings (MKTX), while Emcor Group (EME) will replace Enphase Energy (ENPH). These shifts underline how the S&P 500 continues to evolve to reflect market strength and scale.
Earlier this year, Coinbase Global (COIN) became the first digital asset firm to enter the S&P 500. With Robinhood now set to join, the fintech sector is building a larger role in the index.
What Is the Price Target for HOOD Stock?
On the Street, Robinhood boasts a positive outlook among analysts with a Moderate Buy consensus rating. The average HOOD stock price target stands at $113.71, implying a 12.31% upside from the current price.
