Citigroup Raises Robinhood Markets, Inc. (HOOD)'s Price Target To $135, Maintains Neutral Rating

Robinhood Markets, Inc. (NASDAQ:HOOD) is among the Renaissance Technologies Portfolio: 10 Biggest Stocks. On September 23, Citigroup lifted the stock’s price target to $135 from $120, while maintaining a Neutral rating for its shares.

The firm cited an elevated trading activity behind its adjustment for the stock, but added that it prefers to be on the sidelines until a more attractive entry point for the company’s shares.

In other news, on the same day, analysts at Piper Sandler also raised Robinhood Markets, Inc. (NASDAQ:HOOD)’s price target to $140 from $120, and reiterated an Overweight rating for its shares.

Analyst Patrick Moley told investors in a client note that prediction markets were fueling the company’s growth, with sports betting already bringing in approximately $200 million to the platform.

Piper Sandler also added that Kalshi, a contract exchange that Robinhood Markets, Inc. (NASDAQ:HOOD) has partnered with, is on track for record volumes in September, partly due to the rollout of NFL and NCAA Football prediction markets.

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