Stock Track | Robinhood (HOOD) Soars 5.05% in Pre-market Following Strong Week and Positive Analyst Ratings

Stock Track03-24

Robinhood Markets Inc. (NASDAQ: HOOD) is continuing its upward trajectory, surging 5.05% in pre-market trading on Monday. This latest jump comes on the heels of a strong performance last week, where the stock climbed 13.05%, making it one of the best-performing stocks in the market.

The recent rally in Robinhood's stock price can be attributed to positive analyst coverage. Last week, Compass Point initiated coverage on HOOD with a "buy" rating and a price target of $61, suggesting a potential 37.5% upside from its previous closing price. The analysts cited Robinhood's opportunity to generate up to $665 million from cross-selling to existing US customers, including $150 million from staking alone.

Adding to the bullish sentiment, KeyBanc maintained its "overweight" rating on Robinhood, with an even more optimistic price target of $75. This represents a significant 69% upside potential from the stock's last closing price. The continued positive outlook from analysts appears to be fueling investor confidence, contributing to today's pre-market surge. As the market opens, investors will be watching closely to see if Robinhood can maintain this momentum and build on last week's impressive gains.

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(NASDAQ: HOOD) is continuing its upward trajectory, surging 5.05% in pre-market trading on Monday. This latest jump comes on the heels of a strong performance last week, where the stock climbed 13.05%, making it one of the best-performing stocks in the market.</p>\n\n<p>The recent rally in Robinhood's stock price can be attributed to positive analyst coverage. Last week, Compass Point initiated coverage on HOOD with a \"buy\" rating and a price target of $61, suggesting a potential 37.5% upside from its previous closing price. The analysts cited Robinhood's opportunity to generate up to $665 million from cross-selling to existing US customers, including $150 million from staking alone.</p>\n\n<p>Adding to the bullish sentiment, KeyBanc maintained its \"overweight\" rating on Robinhood, with an even more optimistic price target of $75. This represents a significant 69% upside potential from the stock's last closing price. 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