Robinhood price target raised to $40 from $33 at JMP Securities

JMP Securities raised the firm’s price target on Robinhood (HOOD) to $40 from $33 and keeps an Outperform rating on the shares. Robinhood’s October metrics highlight strong business momentum, which JMP sees accelerating following last week’s U.S. election, the analyst tells investors in a research note. Longer term, this should unlock expanding revenue potential across numerous parts of the business, the firm says. JMP sees numerous revenue opportunities that could offset headwinds from lower interest rates which the Street is not fully appreciating.