Robinhood (HOOD) Joins S&P 500, Analysts See Major Growth Potential Ahead

Robinhood Markets, Inc. (NASDAQ:HOOD) ranks among the hot stocks to invest in right now. On September 9, Bernstein SocGen Group reiterated an Outperform rating and a $160 price target for Robinhood Markets, Inc. (NASDAQ:HOOD). The reaffirmation follows Robinhood’s inclusion in the S&P 500 index, which marked a major turning point for the company that started as a retail trading platform but has since developed into what Bernstein refers to as “a financial services market leader for the new generation.”

According to the firm, Robinhood Gold is a key component in the company’s success, with 3.5 million users paying $5 a month for premium features such as improved deposit rates, mortgage offers, and the Gold credit card, which has so far distributed 300,000 cards with a “long waiting queue.”

Robinhood Markets, Inc. (NASDAQ:HOOD) is a California-based financial services company that utilizes a mobile app to offer commission-free trading of stocks, exchange-traded funds, and cryptocurrencies, as well as individual retirement plan administration.

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Disclosure: None. This article is originally published at Insider Monkey.