Robinhood Soars on Cryptocurrency Deal and First-Ever IPO Role

Robinhood Markets Inc.'s (NASDAQ:HOOD) shares are showing upward movement on Tuesday, driven by several key developments. The company has expanded its partnership with Crypto.com to bring yes-or-no event contracts into its prediction markets hub.

This partnership adds Crypto.com to a growing roster of contract suppliers that includes Kalshi, Interactive Brokers' ForecastEx, and Rothera, Robinhood's joint venture with Susquehanna International Group. Notably, this deal also gives Robinhood an equity stake in Crypto.com.

Rising event contracts on Robinhood have already surpassed 16 billion in 2026, outpacing the more than 12 billion traded across all of 2025.

In another significant move, The Wall Street Journal reported that Robinhood has secured its first-ever IPO underwriting role by joining Oura's upcoming public offering syndicate. Oura is seeking a valuation exceeding $16 billion and has received backing from major investment banks like Goldman Sachs, Morgan Stanley, JPMorgan, Allen & Co., and Jefferies.

Rounding out the positive news for Robinhood, analysts have increased their price targets on HOOD. Goldman Sachs raised its target to $142 from $124, maintaining a Buy rating due in part to Rothera's strong performance.