Piper Sandler raised the firm’s price target on Robinhood to $11.50 from $11.00 and keeps a Neutral rating on the shares. Robinhood reported its first quarter of GAAP profitability since going public in 2021 while continuing to innovate and execute on its product roadmap, the analyst tells investors. The firm maintains a Neutral rating on the stock, waiting for a more convincing turn around in MAU growth and trading volumes as well as a reduced reliance on NIR for growth before becoming more optimistic on the stock.
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Read More on HOOD:
- GOOGL Slashes Its Stake in Robinhood (NASDAQ: HOOD) By 90%
- Robinhood price target raised to $12 from $10 at Citi
- Robinhood price target raised to $11 from $10 at Barclays
- Robinhood Stock (NASDAQ:HOOD) Falls Despite Surprise Profit and Sales Beat
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