Robinhood Markets Inc (NASDAQ:HOOD) shares are climbing Tuesday. Needham raised its price target on the stock ahead of second-quarter earnings. Here’s what you need to know.
Robinhood Markets stock is showing exceptional strength. Why is HOOD stock surging?
Needham Sees Stronger Revenue Momentum as Platform Activity Surges
Needham analyst John Todaro kept his Buy rating and pushed his price target to $123 from $97, anchored to a 28x multiple on his discounted 2027 adjusted EBITDA estimate. The upgrade reflects what Todaro describes as a platform where almost everything outside of crypto is running near peak activity levels.
The firm bumped its second-quarter revenue estimate to $1.33 billion from $1.27 billion, driven largely by stronger transaction revenues of $814 million versus a prior forecast of $727 million. Full-year 2026 revenue estimates moved to $5.21 billion from $5.07 billion while adjusted EBITDA climbed to $2.66 billion from $2.49 billion.
