Robinhood Markets (HOOD) released its August operational data on Thursday, which reflected resilience in its performance despite a sequential decline in trading volumes. The company’s total platform assets grew 2% month-over-month to $303.9 billion. Reacting to the trading platform’s August update, Brett Knoblauch, a top analyst from Cantor Fitzgerald, reiterated a Buy rating on HOOD stock. The 5-star analyst’s $130 price target indicates 12% upside potential. HOOD stock has rallied 211% year-to-date.
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Top Cantor Analyst Weighs in on Robinhood’s August Performance
Knoblauch stated that Robinhood delivered “another strong month,” although it was not as strong as July, when the company set records across nearly every major key performance indicator (KPI). He noted that Robinhood’s equity volumes in August were down 4.7% month-over-month, while options volume fell 0.2%. Furthermore, retail crypto volume decreased by 18.5% compared to the previous month.
However, Knoblauch highlighted that on the positive side, institutional crypto volume grew 21% sequentially in August. Also, growth in margin balances continued to be encouraging, increasing 9.6% month-over-month, while the cash sweep balance experienced a modest sequential growth. Finally, net deposits were $4.8 billion in August, which Knoblauch noted was “about average” for what the company has been adding on a monthly basis this year.
Aside from Knoblauch, several other analysts have reaffirmed their bullish stance on Robinhood this week, encouraged by the new features unveiled by the company at the HOOD Summit 2025 event in Las Vegas. For instance, Mizuho analyst Dan Dolev reiterated a Buy rating on Robinhood Markets stock and raised his price target to $145 from $120, stating that he is “even more optimistic” about the trading platform following the release of new features.
What Is the Price Target for HOOD Stock?
Currently, Wall Street has a Moderate Buy consensus rating on Robinhood Markets stock based on 13 Buys and six Holds. The average HOOD stock price target of $124.59 indicates 7.6% upside potential from current levels.
