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Robinhood Stock Rises as Deutsche Bank Says ‘Good Buying Opportunity’
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Key Points
- Deutsche Bank said Robinhood Markets is a good buying opportunity after the stock price fell.
- Analyst Brian Bedell advises clients that he sees trading platforms benefit from the continued strong momentum of stock and option trading volumes.
- Bedel lowered his price target but maintained a buy rating for the stock.
Robinhood Marketshood) Stocks rose Wednesday after Deutsche Bank called the online trading platform “good buying opportunity.”
Deutsche Bank analyst Brian Bedell wrote in February that Robinhood’s performance showed “promising signs, with continued strong trading volumes across stocks and options.” Bedell added that the month brought “strong traction” to new product activity, which is faster sales for futures, as well as strong deposits and growth profit balance.
Bedell confirmed the bank’s “buy” rating, although his target target dropped by $61 from the estimate, which was lower and lower. “However, he advises clients that the stock price has fallen 42% from its recent high, which is a great time to get stocks because “Over the next 12 months, our revised price target is ~60% upside. ”
Robinhood Market stock increased by about 2% on Wednesday morning and rose by about 125% over the past year.
TradingView
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