Robinhood price target raised to $53 from $40 at JMP Securities

JMP Securities raised the firm’s price target on Robinhood (HOOD) to $53 from $40 and keeps an Outperform rating on the shares. Robinhood’s management delivered a “compelling” long-term roadmap at its inaugural Investor Day that supports the firm’s view that Robinhood’s best days are still ahead, the analyst tells investors in a research note. The event outlined a vision of of growth, expense control, and capital optimization, which can support additional step-functions in the earnings power over time and, in turn, can still drive material shareholder value creation from here, JMP says.