Robinhood price target raised to $52 from $40 at Needham

Needham analyst John Todaro raised the firm’s price target on Robinhood (HOOD) to $52 from $40 and keeps a Buy rating on the shares. The company has successful rolled out new product launches, while the retail crypto activity is coming back significantly, with November volumes up 400% vs October, the analyst tells investors in a research note. Robinhood has also hosted a successful Analyst Day last week, with the management emphasizing paths to growing margin above 50%, new product launches in the road map, and deeper ambitions to materially lean into crypto in FY25, Needham adds.