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Robinhood Markets, Inc. (NASDAQ:HOOD) reported record revenue of $1.27 billion for the third quarter, representing 100% year-over-year growth.
Analysts are weighing in on the brokerage's blockbuster quarter.
In a note titled "No Signs of Slowing Down; Another Record Q," Cantor analyst Brett Knoblauch highlighted the exponential growth of Robinhood's prediction markets business — nearing a $300 million run-rate and making it the company's 11th product area to surpass $100 million in annualized revenue in just one year since launch.
"What we find impressive is that within a year of launching prediction markets, HOOD’s prediction
business is now essentially the same size as its equities trading business," Knoblauch wrote in the note.
He also noted a major rebound in the firm's crypto business, with Robinhood app crypto volumes up 40.6% quarter over quarter and Bitstamp volumes up 70%.
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Cantor maintained an Overweight rating on HOOD and raised the price target from $130 to $155.
Goldman Sachs analyst James Yaro also marveled at Robinhood's growth in prediction markets, which doubled the previous quarter's pace and offer significant upside to 2026 estimates.
Yaro highlighted Robinhood's commitment to rolling out even more new business lines and incremental revenue streams, driving the firm's valuation higher.
Goldman Sachs maintained a Buy rating on Robinhood shares and raised its price target from $170 to $181.
These analysts also raised price targets following Robinhood's Q3 print:
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Posted In: HOOD
