Robinhood Markets Inc (NASDAQ:HOOD) shares hit a new all-time high Wednesday, following a series of major announcements revealing a more comprehensive push into the cryptocurrency space.
Additionally, KeyBanc Capital Markets on Monday increased its price target for the stock to $110 from $60, maintaining an Overweight rating. Here’s what investors need to know.
What To Know: KeyBanc analysts, including Alex Markgraff, cited Robinhood’s “first-rate innovation” and “TAM expansion” as primary drivers for the upgrade.
The revision follows Robinhood’s first crypto user event in Cannes, France and strong intra-quarter data. Key announcements included the launch of commission-free tokenized U.S. equities for EU users and the introduction of perpetual futures with up to 3x leverage in the same region.
These initiatives, along with the expansion of crypto trading to the entire European Union, signal a clear roadmap for international growth.
The report also reflects updated financial estimates, factoring in better-than-expected April-June data and the anticipated revenue from the Bitstamp acquisition.
KeyBanc projects 2025 revenue of $3.77 billion and GAAP EPS of $1.31. The new $110 price target is based on 83.5x the firm’s 2025 GAAP EPS estimate. KeyBanc also outlined a bull case of $130 and a bear case of $65.
Also of note, CEO Vlad Tenev stated this week that the company aims to establish ‘crypto as the backbone of the global financial system.’
This strategic expansion also includes the development of its own Layer 2 blockchain on Arbitrum, designed to support tokenized assets and self-custody, signaling a transformative vision for the future of finance.
Price Action: According to data from Benzinga Pro, HOOD shares are trading higher by 7.1% to $98.86 Wednesday morning. HOOD has a 52-week high of $100.29 and a 52-week low of $13.98.
Read Also: Robinhood To Rally More Than 17%? Here Are 10 Top Analyst Forecasts For Tuesday
How To Buy HOOD Stock
By now you're likely curious about how to participate in the market for Robinhood Markets – be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy “fractional shares,” which allows you to own portions of stock without buying an entire share.
In the case of Robinhood Markets, which is trading at $97.64 as of publishing time, $100 would buy you 1.02 shares of stock.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to “go short” a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.
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