Goldman Sachs Hikes HOOD Target to $121 as Robinhood Rockets Past $100 🚀

Goldman Sachs lifted its price target on Robinhood stock to $121 from a prior $108, retaining a "Buy" rating on the back of preliminary June operating data that outpaced firm expectations. Analyst James Yaro authored the research note following a review of the trading activity, which spanned several key business segments for the retail brokerage.

Robinhood shares ($HOOD) extended their rally, trading above the $100 mark even as the broader crypto market declined during the session. The move follows a series of upward revisions from Wall Street desks tracking the company's expanding footprint in retail trading and digital assets.

The June volume figures showed stronger-than-expected activity across multiple product lines, according to Goldman Sachs. The firm cited the results as evidence of sustained engagement from Robinhood's user base, though it stopped short of projecting specific quarterly earnings outcomes.

Goldman Sachs had already raised its HOOD price target earlier in the month, before the latest data prompted a further upward revision. The repeated upgrades reflect confidence in the company's ability to monetize a growing share of retail trading flow.

Robinhood Markets, Inc. ($HOOD) is a U.S.-listed brokerage whose app offers equities, options, exchange-traded funds and cryptocurrency trading alongside cash management products.