- Mizuho analyst reiterated a Buy rating on Robinhood Markets, Inc (NASDAQ:HOOD), with a price target of $14.00.
- He recently hosted a lunch meeting in Palo Alto with CEO & Co-Founder Vlad Tenev & CFO Jason Warnick.
- Also Read: Robinhood Analysts Praise Q3 Earnings, ‘Product Innovation’: Are Expectations Now Running High For Coinbase?
- Following a remarkable 3Q marked by stabilized growth and strong cost controls, he was encouraged to hear about HOOD’s success in increasing Gold cash sweep balances, opportunities to disrupt brokerage in retirement and non-custodial wallets further, continued focus on international expansion, and ongoing focus on operating efficiency.
- While 2020 & 2021 saw the emergence of several Robinhood-like trading apps, it was nice to hear that the competitive environment is trending in favor of HOOD, as major contenders are losing momentum and dropping in app store ranking, whereas Robinhood continues to shine.
- Price Action: HOOD shares traded lower by 0.73% at $12.19 on the last check Monday.
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