Robinhood inventory may have a vivid future due to bitcoin’s meteoric rise and the success of the corporate’s inaugural investor day, in accordance with analysts. The firm behind the favored retail buying and selling platform held its first-ever investor day on Wednesday, the place executives outlined a imaginative and prescient for its development over the following 10 years. Following the assembly, analysts stated a few of Robinhood’s targets seem cheap and achievable within the near-term, whereas others are exceptionally daring calls. Executives are hoping to grow to be the premier platform for energetic buying and selling inside the subsequent one to 2 years, whereas additionally forecasting Robinhood will probably be acknowledged as the highest world monetary surroundings inside the subsequent 10 years. The firm expects its whole addressable market develop to greater than $600 billion , which ought to assist Robinhood’s forecast for the corporate to develop income ten-fold, in accordance with Morgan Stanley analyst Michael Cyprys. Shares have surged greater than 213% in 2024. HOOD YTD mountain Robinhood inventory. But the intense image Robinhood painted on Wednesday is not the one tailwind working within the firm’s favor. Bitcoin, the biggest cryptocurrency by market capitalization, topped the important thing $100,000 stage on Wednesday night time , including to its already exceptionally sturdy run in 2024. Crypto fans and traders have added to bets on bitcoin this 12 months over a perceived ally in President-elect Donald Trump , in addition to hopes that his return to the White House will yield a brand new development runway for cryptocurrencies transferring ahead. Robinhood outlined particular tailwinds on Wednesday tied to crypto together with the expansion and addition of extra tokens throughout the globe, in addition to the tokenization of different asset lessons. Executives additionally floated the concept of staking. Here’s a have a look at why analysts on Wall Street are rising extra bullish on Robinhood. Morgan Stanley, chubby score with a $55 per share value goal Cyprus’ value goal implies practically 38% upside from Wednesday’s $40 per share shut. “We come away from Robinhood’s investor day incrementally extra constructive on the expansion outlook with many irons within the hearth that would drive vital development and a deep pipeline of recent initiatives set to be launched in 2025,” Cyprys stated. “We see HOOD as a key beneficiary of broader tailwinds behind democratization of finance, retail buying and selling/ self-directed, giant generational wealth transfers, crypto adoption, and AI disruption.” Mizuho Securities, outperform score, $60 per share value goal Mizuho managing director managing director Dan Dolev stated that Robinhood has efficiently “captured the zeitgeist of a era.” His forecast for Robinhood shares implies 50% upside. “Management has confirmed its skill to drive worthwhile development whereas including incremental merchandise, providers, and geographies — a key differentiator vs incumbent platforms,” Dolev wrote on Thursday. “The subsequent catalyst we see for HOOD is worldwide adoption after its latest 2024 launch within the UK.” KeyBanc Capital Markets raises value goal, maintains chubby score The agency raised its value goal to $47 per share from $30 on Wednesday, implying about 18% upside forward. “While valuation does warrant a bit extra dialogue as we speak, we’ve got better confidence within the momentum behind asset/income development as we speak and really feel that an easing regulatory surroundings ought to produce a extra favorable working backdrop,” analyst Alex Markgraff stated. Piper Sandler stays chubby, ups value goal Piper Sandler analyst Patrick Moley famous one of many greatest takeaways from Robinhood’s investor day is that the agency has “plenty of room to broaden the crypto enterprise,” and will additionally emerge as a number one platform for a wide selection of asset lessons. His $54 per share value goal requires 35% upside from present ranges. “Overall, we got here away from the investor day with an more and more bullish outlook for HOOD shares and consider the mix of sturdy model recognition, comparatively small market share (outdoors of cellular retail buying and selling), and a strong product roadmap place HOOD properly for future development,” Moley stated.
