Robinhood Markets Inc. (HOOD) hit a fresh 52-week high on Monday, reigniting investor interest in the popular trading platform. The surge comes amid improving fundamentals, renewed retail investor momentum, and expanding product offerings. Year-to-date, HOOD stock has surged over 80%. With this rally, investors are left with a key question: Is HOOD stock still a smart buy?
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Turning to Wall Street analysts, Robinhood stock holds a “Moderate Buy” consensus rating. However, following the recent surge in share price, analysts see no upside from current levels. In fact, the average price target suggests a potential downside of over 7%.
What’s Happening with HOOD Stock?
Robinhood shares soared to a fresh 52-week high on Monday, closing at $67.98 with a 2.7% gain, as tech stocks led the market in a volatile session. The online brokerage has been on a remarkable run, surging nearly 100% since its April 8 low.
Over the past year, the stock has delivered an impressive 219% return, signaling a strong rebound in investor sentiment and growing confidence in Robinhood’s evolving business model.
Analysts Stay Bullish on Robinhood Stock
Analysts are responding positively to Robinhood’s recent strategic moves. Last week, five-star-rated analyst Patrick Moley of Piper Sandler reiterated his Buy rating on HOOD stock, setting a price target of $70, about 3% above current levels. Moley praised Robinhood’s diversification efforts and its potential to benefit from the ongoing Bitcoin rally.
Meanwhile, analysts at Needham also maintained a Buy rating and raised their price target to $71 earlier this month. They cited strong momentum in product innovation, especially within the cryptocurrency space. Notably, Needham highlighted Robinhood’s planned 2025 acquisition of crypto exchange Bitstamp as a key growth catalyst and a move that could solidify its competitive edge in digital assets.
Is HOOD Stock a Good Buy?
According to TipRanks consensus, HOOD stock has a Moderate Buy rating, based on 14 Buys and five Holds assigned in the last three months. The Robinhood Markets share price target of $62.78 implies a 7.6% downside over current trading levels.
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