Movement Alert｜Robinhood Rises 3.44% in Regular Trading, Needham Raises Target Price Amid Strong May Operating Data

Market Focus06-11

On June 11, Robinhood rose 3.44% in regular trading, trading at $89.44/share, with turnover of $1.016 billion.

On the news front, Needham raised its target price on Robinhood from $85 to $97, maintaining a buy rating. This follows Goldman Sachs further raising its target price to $108, also maintaining a buy rating. The consensus mean price target among analysts polled now stands at approximately $102.91.

Simultaneously, Robinhood disclosed strong May operational data. Total platform assets surged 48% year-over-year to $377 billion, while notional equity trading volume jumped 75% to $315 billion. Net deposits for May reached $5.6 billion, representing a 19% annualized growth rate. Funded customers stood at 27.7 million, up approximately 1.76 million from the prior year. Additionally, Robinhood Securities recently received approval to serve as an IPO underwriter, expanding its role in the capital markets and potentially unlocking new revenue streams. Multiple positive catalysts continued to support the stock price.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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