Following strong earnings, analysts predict continued growth for Robinhood, with a focus on crypto revenue and new product launches driving expectations.
Robinhood’s second-quarter earnings have led analysts to raise their price targets, with JPMorgan increasing its target to $104 from $98, maintaining a neutral rating. The company reported $160 million in crypto revenue, driven by its Bitstamp acquisition, and has seen significant year-over-year growth. Citi and Keefe, Bruyette & Woods also raised their targets, while Cantor Fitzgerald issued a buy rating with a target of $118. Investors are closely watching Coinbase's upcoming earnings, which may reflect similar trends in retail crypto trading.