Robinhood Shares Soar on Analyst Upgrades

Roland and his team at Morgan Stanley have given Robinhood (HOOD) a boost, upgrading it to Overweight from Equal-weight with a new price target of $150. Scotiabank's Lance Jessurun also initiated coverage, giving HOOD a Sector Outperform rating and a $136 target.

Piper Sandler's Patrick Moley increased his price objective for Robinhood to $145, highlighting the potential of prediction market activity as the NFL season approaches.

Roland Cyprys noted that customer asset levels have risen 23% compared to last year, driven by the company's expanded product offerings. Lance Jessurun emphasized that investors continue to view Robinhood through an outdated lens, missing its diversified revenue streams.