Robinhood’s Stock Makes New Highs As Crypto Run Fuels Upswing

Robinhood Markets stock price (NASDAQ: HOOD) continues the recent bullish run, and took out new highs in trading up at $34.32. The stock experienced a significant upswing to start the week, gaining 7.40% on the day following an analyst upgrade, and bullish sentiment in all things crypto, with Bitcoin reaching new all time highs helping float all boats.

Investment banking firm Morgan Stanley increased their price target on the stock from $22.00 to $24.00 which might in itself appear bullish, but such has been the acceleration in HOOD's price action in recent days that this target sits firmly below the latest close. The five day gain for Robinhood stock is now up at 33.90%, as the company continue to substantially outperform markets this year.

YTD appreciation of 165.16% against the S&P 500‘s 26.54% marks this one out as a favourite of markets on the year.

Financial performance metrics for Robinhood Markets reveal a net margin of 21.80% and a return on equity of 7.52% for the most recent quarter. The company registered a revenue of $637.00 million, which fell marginally short of analyst expectations. These figures come into focus amidst the company's current standing, with a fifty-day moving average price of $24.17 and a two-hundred-day moving average of $21.83.

The firm's overall market capitalization stands at around $29.92 billion, coupled with a PE ratio of 56.47 and a beta of 1.84, highlighting the stock's relative volatility compared to the market.

As a business, Robinhood Markets operates a comprehensive financial services platform. The platform provides users with the opportunity to invest in a variety of financial instruments, including stocks, ETFs, options, and cryptocurrencies.