Piper Sandler Sees Football Seasons Driving HOOD Growth

Raising its price target by over 40%, Piper Sandler analyst Patrick Moley forecasts that Robinhood Markets Inc (HOOD) will see significant growth in its prediction market business, particularly with the upcoming NFL and NCAA football seasons. In a note to investors cited by TheFly, Moley said the thesis behind the rating is based on prediction markets rather than Robinhood's core brokerage business.

The analyst projects that Robinhood users will trade 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 to $145 from $135, with Piper Sandler maintaining its 'Overweight' rating on the stock.

In related news, Scotiabank also initiated coverage for HOOD with an 'Outperform' rating and a price target of $136, seeing an upside above 31%. Robinhood Chain's DEX volume hit more than $1.4 billion over the past 24 hours, with CASHCAT, the top-traded token on the chain, reaching an all-time high and trading up over 27%.