HOOD – Robinhood Shares: $65.35 Target From Redburn

  • The shares of Robinhood Markets Inc (NASDAQ: HOOD) have received a price target of $65.35. These are the details.

The shares of Robinhood Markets Inc (NASDAQ: HOOD) have received a price target of $65.35. And Redburn analyst Charles Bendit initiated coverage of Robinhood with a “Buy” rating.

“Robinhood has had a profound impact on the construct of the brokerage market in the US,” wrote Bendit in a research report via The Street. “It continues to enlarge its defined market and is geared into the increasing wealth of its users, a generation whose share of US wealth is projected to triple by 2030.”

Along with the expansion and crypto trading, Bendit expects Robinhood to move into adjacent consumer finance areas and export its model to overseas regions ripe for disruption. Plus Bendit added that if Robinhood is valued in line with other disruptive fintechs companies and if it is also able to capture a 1% share of global neobanking revenues in 2023, there could be a fair value of $97.42.

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