Piper Sandler raised the firm’s price target on Robinhood (HOOD) to $75 from $54 and keeps an Overweight rating on the shares. The firm notes Robinhood reported solid EPS beat and progress on product rollouts. Shares are trading up more than 20% after hours, which Piper suspects is due to the Q4 beat, strong January metrics, and a number of positive developments on the product roadmap. Bottom line, the firm believes Robinhood is positioned well to win across many areas of its business in the coming years and is becoming increasingly confident in management’s ability to execute.
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- Robinhood (HOOD) Stock Soars as Goal to Grow Business Ten Times Larger Looks Achievable
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