Robinhood (HOOD) Stock: $11 Price Target From Piper Sandler

By Amit Chowdhry ● May 15, 2022
  • The shares of Robinhood Markets Inc (NASDAQ: HOOD) have received an $11 price target from Piper Sandler. These are the details.

The shares of Robinhood Markets Inc (NASDAQ: HOOD) have received an $11 price target from Piper Sandler. And Piper Sandler analyst Richard Repetto is maintaining a “Neutral” rating on the shares.

Repetto adjusted the rating following the news that FTX founder Sam Bankman-Fried bought a 7.6% stake in Robinhood. And Repetto noted that it is unclear what Bankman-Fried’s intentions are in taking the position. 

But Repetto feels Bankman-Fried’s reputation and knowledge of cryptocurrency markets could benefit Robinhood as it works on bolstering crypto offerings. And Repetto pointed out that Robinhood has recently made a focused push to expand its crypto capabilities. 

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.