BofA Lifts Robinhood Target to $140 as Ventures Fund IPO Nears

Bank of America raised its price target on Robinhood Markets to $140 from $132 and maintained a Buy rating, citing momentum after the brokerage's strong second quarter. Robinhood reported revenue of $1.3 billion, up 32% year over year, driven largely by a tenfold surge in prediction-markets revenue, with earnings of $0.62 per share topping estimates.

The company is also preparing to take Robinhood Ventures Fund II public in mid-August, expanding its push to give retail investors access to private-market companies. Shares traded near $95 on Tuesday and recently formed a golden cross, a technical pattern many traders view as bullish.

Not all analysts are equally constructive: Barclays trimmed its target to $105 from $122, though it kept an Overweight rating, reflecting debate over how much of the growth story is already priced in.