Robinhood Rallies 11% on Morgan Stanley Upgrade

Analyst

โดย 24/7 Wall St.·

Summary · why it matters

Robinhood Markets stock rallied 11% to $118.88 on Thursday after Morgan Stanley upgraded it to Overweight with a $150 price target, while Webull climbed 7% to $9.62 and Interactive Brokers gained 4% to $92.44. The upgrade, from Equal Weight, cited prediction markets, growing customer assets, and expanding financial products as growth drivers. Robinhood's second-quarter revenue hit a record $1.31 billion, with net income up 48% year over year to $573 million, and event-contract revenue reached $156 million, surpassing crypto revenue of $100 million. Interactive Brokers reported 5.19 million accounts, up 34% year over year, with daily revenue trades up 36% and margin loans up 67%. Bitcoin rose 3% to $78,830.12, and the iShares Bitcoin Trust ETF gained 2% to $44.65.