Truist Securities Reiterates Buy Rating on Robinhood Markets (HOOD)

Truist Securities analyst David Smith reiterated a Buy rating and $100.00 price target on Robinhood Markets (NASDAQ: HOOD).

The analyst commented: "On Friday, HOOD provided updated MTD volumes through June 25th, with 3 trading categories all continuing pace for record trading in June: equities, options, and prediction markets. That said, since the prior update on volumes through 6/18, equities and options have decelerated modestly while prediction volume has accelerated. Crypto volumes remain subdued, but MoM trends indicate volumes are inflecting. Extrapolating the last few days in the month suggests double-digit upside to Street transaction revenues in 2Q, perhaps HSD/low DD upside to overall revenues. This ongoing trading strength has boosted HOOD's stock over the past month even with crypto prices depressed."

For an analyst ratings summary and ratings history on Robinhood Markets click here. For more ratings news on Robinhood Markets click here.

Shares of Robinhood Markets closed at $98.69 yesterday.

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