HOOD is trading at $80.75 (+5.21%) after receiving positive analyst coverage and reporting strong monthly operating data, with a rally in the broader crypto market providing additional tailwinds.
- Deutsche Bank reiterated its Buy rating and $86.00 price target on Robinhood today, citing the company's strong April metrics.
- The rating follows Robinhood's May 13th report of strong April data, which included $6.0 billion in net deposits and a 49% year-over-year increase in total platform assets to $345 billion.
- The move is also supported by gains in the cryptocurrency market, with Bitcoin rising over 1.5%.