Multiple analysts raise price targets for Robinhood stock

Several Wall Street analysts have recently given Robinhood Markets a strong buy recommendation, with price targets well above current levels. StoneX analyst Mark Palmer set the highest target at $170 per share. BTIG and Scotiabank also started coverage with positive ratings, targeting $125 and $136 respectively. Piper Sandler raised its target from $135 to $145. Across 27 analysts, the average 12-month target is $102.90. Analysts say Robinhood is no longer just a discount broker. They now see it as a software and technology platform. New products like Robinhood Chain and prediction markets are driving this view. The company has also made deals with Crypto.com and OG.com, taking equity stakes in both.