Citigroup Raises Robinhood Markets, Inc. (HOOD)’s Price Target To $135, Maintains Neutral Rating

Robinhood Markets, Inc. (NASDAQ:HOOD) is among the Renaissance Technologies Portfolio: 10 Biggest Stocks. On September 23, Citigroup lifted the stock’s price target to $135 from $120, while maintaining a Neutral rating for its shares.

Citigroup Raises Robinhood Markets, Inc. (HOOD)'s Price Target To $135, Maintains Neutral Rating

The firm cited an elevated trading activity behind its adjustment for the stock, but added that it prefers to be on the sidelines until a more attractive entry point for the company’s shares.

In other news, on the same day, analysts at Piper Sandler also raised Robinhood Markets, Inc. (NASDAQ:HOOD)’s price target to $140 from $120, and reiterated an Overweight rating for its shares.

Analyst Patrick Moley told investors in a client note that prediction markets were fueling the company’s growth, with sports betting already bringing in approximately $200 million to the platform.

Piper Sandler also added that Kalshi, a contract exchange that Robinhood Markets, Inc. (NASDAQ:HOOD) has partnered with, is on track for record volumes in September, partly due to the rollout of NFL and NCAA Football prediction markets.

While we acknowledge the risk and potential of HOOD as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than HOOD and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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Disclosure: None.