Stock Track | Robinhood (HOOD) Soars 6.90% Intraday as Goldman Sachs Reiterates "Buy" Rating on Predictive Market and AI Upgrades

Stock Track12-18 22:36

Robinhood's stock surged 6.90% during the intraday session on Thursday, reflecting strong investor confidence following Goldman Sachs' bullish outlook on the company's recent product enhancements.

Goldman Sachs reiterated its "Buy" rating on Robinhood, setting a 12-month price target of $167. The bank highlighted the company's new predictive market features, including pre-set and customizable combo contracts for sports betting, as well as significant upgrades to its AI advisor, Robinhood Cortex. These improvements are expected to enhance competitiveness and user experience, narrowing the gap with traditional online sports betting platforms.

The upgrades, which include real-time financial data integration and voice-command trades, are seen as key drivers for future growth, boosting trader engagement and platform efficiency.

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