Citizen JMP Raises PT on Robinhood Markets (HOOD), Keeps a Buy Rating

​Robinhood Markets, Inc. (NASDAQ:HOOD) is one of the Hottest Large-Cap Stocks to Buy Now. On October 9, Devin Ryan from Citizen JMP raised the firm’s price target on Robinhood Markets, Inc. (NASDAQ:HOOD) from $130 to $170, while keeping an Outperform rating on the stock.

The analyst in his research note highlighted that the capital markets and financial technology stocks have surged more than 30% to 50% since the April lows. This is because the market activity has rebounded, along with robust institutional trading and strong flows in wealth management.

​The analyst acknowledged that the valuations are stretched, with several subsectors at multi-year highs. In addition, Ryan expects performance dispersion, thereby suggesting the importance of selectivity. Despite this, he believes some names in the industry present attractive opportunities.

​Robinhood Markets, Inc. (NASDAQ:HOOD) provides a technology-driven financial services platform offering commission-free trading of stocks, options, ETFs, and cryptocurrencies.

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Disclosure: None. This article is originally published at Insider Monkey.