Robinhood price target raised to $36 from $30 at Piper Sandler

Piper Sandler analyst Patrick Moley raised the firm’s price target on Robinhood (HOOD) to $36 from $30 and keeps an Overweight rating on the shares. The firm believes Robinhood is a very good way to play a crypto bull market as it has significant runway to scale its crypto operations alongside an already established cash equity and options brokerage business. For as long as this crypto bull market continues, Piper expects Robinhood to see strong retail engagement and transaction volumes.