Piper Sandler Hikes HOOD Price Target Amid Football Season Frenzy

Piper Sandler has raised its price target on Robinhood Markets Inc (HOOD) by more than 40%, citing the upcoming football season as a catalyst for growth in the company's prediction market business.

The analyst, Patrick Moley, noted that while the World Cup drove prediction market volumes through the summer, the NFL and NCAA football seasons are set to take center stage. He projected Robinhood users trading roughly 29.7 billion event contracts between September and December 2026, generating an estimated $320 million in revenue over the four months.

The price target was raised from $135 to $145, with Piper Sandler maintaining its 'Overweight' rating on HOOD stock. Scotiabank also initiated coverage for HOOD with a 'Outperform' rating and a price target of $136.