Robinhood price target raised to $54 from $42 at Piper Sandler

Piper Sandler raised the firm’s price target on Robinhood (HOOD) to $54 from $42 and keeps an Overweight rating on the shares following the company’s s first ever investor day. Overall, the firm came away from the investor day with an increasingly bullish outlook for the shares and believes the combination of strong brand recognition, relatively small market share, and a robust product roadmap position Robinhood well for future growth.