Citigroup and Mizuho Boost Robinhood Price Targets Amid Crypto-Led Rally

Robinhood's stock (HOOD) continues its meteoric rise, surging 229% year-to-date as analysts revise targets upward. Citigroup lifted its price forecast to $135 while maintaining a Neutral rating, citing heightened trading activity and consistent revenue performance. Mizuho remains the most bullish with a $145 target, implying further upside from current levels NEAR $121.78.

The platform's growth is increasingly tied to crypto and prediction markets. Piper Sandler highlights sports betting's $200 million revenue contribution and a partnership with contract exchange Kalshi, which is poised for record September volumes. These catalysts arrive ahead of Q3 earnings on October 29.

Broader market tailwinds amplify HOOD's rally. The S&P 500's upward momentum, fueled by the Federal Reserve's rate cut, has made the stock a standout performer. Its dual appeal to equity traders and crypto enthusiasts creates unique momentum—a convergence of traditional finance and digital asset adoption.