Robinhood has ‘significant headroom’ to gain market share, says Bernstein

Bernstein says Robinhood (HOOD) is “very deserving” of being added to the S&P 500 Index. The company has “significant headroom” to gain market share across both trading and financial services, the analyst tells investors in a research note. Bernstein points out that Robinhood comprises “a mere” 12% of the total U.S retail trading revenue pool across both equity and crypto. It sees the company’s biggest opportunity in wealth management and the broader financial services sector. Robinhood “has a long way to go,” contends Bernstein. The firm keeps an Outperform rating on the shares with a $160 price target