Robinhood shares are moving higher on Thursday after Needham raised its price target on the stock while maintaining a Buy rating.

Robinhood sees strong growth in May, with assets and net deposits up significantly. Trading volumes also surge, but crypto activity is muted.

Robinhood stock rises after May data showed higher trading volumes, customer assets and IPO underwriting approval.

Robinhood shares are moving higher on Thursday after Needham raised its price target on the stock while maintaining a Buy rating.