Mizuho raised the firm’s price target on Robinhood (HOOD) to $99 from $80 and keeps an Outperform rating on the shares following a “successful” product event in the South of France and “solid” June metrics. The firm believes the stock should get re-rated, helped by Robinhood’s “unmatched product velocity,” availability in over 30 countries in the EU and EEA and its “myriad of new products,” including stock tokens, staking, advanced charts on mobile, and crypto perpetual futures.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on HOOD:
- Robinhood price target raised to $110 from $60 at KeyBanc
- Robinhood Stock (HOOD) Hits New High on European Launch of U.S. Stock Tokens
- Barclays says Robinhood has relentless focus on user experience
- BTC, XRP, SOL: Robinhood Markets Launches Micro Crypto Futures Contracts
- Robinhood launches stock tokens in the EU, plans Layer 2 blockchain