Key Takeaways:
- Robinhood (HOOD, Financial) shares rose by 8.7%, influenced by Bitcoin's surge.
- Analysts predict a potential upside of nearly 43% for Robinhood stock.
- Current ratings suggest an "Outperform" status, with a fair value downside projected.
Recently, Robinhood (HOOD) shares experienced a notable increase of 8.7% in light of Bitcoin's impressive surge past the $90,000 mark, which has significantly bolstered investor confidence in the cryptocurrency sector. This surge, coupled with a weakening US dollar, has positively impacted stocks linked to digital currencies, subsequently enhancing trading volumes for firms focusing on cryptocurrency markets. On the trading day, Robinhood closed at $42.09, denoting a 5.6% rise.
Wall Street Analysts Forecast
According to the one-year price targets from 18 analysts, the average target price for Robinhood Markets Inc (HOOD, Financial) is $60.14, with high and low estimates of $105.00 and $36.00, respectively. This average target indicates a potential upside of 42.89% from the current price of $42.09. For further in-depth estimates, visit the Robinhood Markets Inc (HOOD) Forecast page.
The current consensus recommendation from 21 brokerage firms classifies Robinhood Markets Inc's (HOOD, Financial) average brokerage recommendation as 2.2, marking an "Outperform" status. This rating is part of a scale from 1 to 5, where 1 signifies Strong Buy, and 5 indicates a Sell recommendation.
Based on GuruFocus estimates, the projected GF Value for Robinhood Markets Inc (HOOD, Financial) in the next year is $24.07, suggesting a potential downside of 42.81% from the current trading price of $42.09. The GF Value is GuruFocus' calculation of the stock's fair trading price, derived from historical trading multiples, prior business growth, and projections of future business performance. More detailed insights are available on the Robinhood Markets Inc (HOOD) Summary page.
