Robinhood shares rise on July metrics data, Deutsche Bank upgrade
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Deutsche Bank Upgrades Robinhood Markets (HOOD) to Buy
August 15, 2024 4:53 AM EDTDeutsche Bank analyst Brian Bedell upgraded Robinhood Markets (NASDAQ: HOOD) from Buy to Buy with a price target of $24.00 (from $21.00).
The analyst comments "We view HOOD's growth potential as being exceptionally attractive, with the founders and mgmt. team not only pioneering simple brokerage trading, but also positioning the company to leverage its... More
Robinhood (HOOD) Reports July 2024 Operating Data
August 14, 2024 4:06 PM EDTRobinhood Markets, Inc. (Robinhood) (NASDAQ: HOOD) today reported select monthly operating data for July 2024:
Funded Customers at the end of July were 24.2 million (up approximately 70 thousand from June 2024, up over one million year-over-year).Assets Under Custody (AUC) at the end of July were $144.5 billion (up 3% from June 2024, up 53% year-over-year). Net Deposits were $4.2 billion in July, translating to a 36% annualized growth rate relative to June 2024 AUC. Over the last twelve months, Net Deposits were $35.8 billion, translating to an annual growth rate of 38% relative to July 2023 AUC.
Equity Notional Trading Volumes were $104.4... More
Pullback presents attractive entry point for this stock, according to Piper Sandler
August 14, 2024 10:00 AM EDTAnalysts at Piper Sandler upgraded a stock on Monday in reaction to a strong pullback.
According to their note to clients, the recent 27% drop in Robinhood (NASDAQ: HOOD) shares presents an attractive entry point into an innovative, fast-growing brokerage platform. As such, the investment bank upgraded the stock to Overweight.
HOOD, which reached a 52-week high of $24.36 on July 16, 2024, has since dropped significantly to below $19 per share.
Alongside an upgrade, Piper Sandler also raised its price target for Robinhood stock to $23, up from a previous target of $20, based on a valuation of... More
Robinhood Markets (HOOD) PT Raised to $21 at Morgan Stanley
August 13, 2024 4:13 PM EDTMorgan Stanley analyst Michael Cyprys raised the price target on Robinhood Markets (NASDAQ: HOOD) to $21.00 (from $20.00) while maintaining a Equalweight rating.
The analyst comments "Post 2Q24 earnings, we raise 3Q24e EPS by 12c to $0.22 (from $0.10 prior), raise 2024e EPS by... More
