Robinhood Stock Rises 16.57%, Multiple Investment Banks Upgrade Ratings

Robinhood's stock closed up 16.57% on Thursday, reaching $124.72, with a market capitalization of $112.13 billion. Canadian Imperial Bank of Commerce upgraded its rating, while Piper Sandler anticipates that Robinhood's market revenue could see significant growth with the start of the football season next week, raising its earnings per share forecasts for 2026 and 2027 by 5% and 7%, respectively, and increasing the target price from $135 to $145. Morgan Stanley upgraded Robinhood's rating from "Hold" to "Overweight," raising the target price from $124 to $150.

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