Morgan Stanley has raised its Robinhood price target to $124 from $95, maintaining an 'Equal Weight' rating on the shares. According to reports from TheFly, the firm told investors that brokers and exchanges are expected to deliver slightly better-than-consensus Q2 earnings driven by stronger volumes and volatility, with brokers favored for attractive valuations, growth potential, and multiple upcoming catalysts. The upgrades follow higher targets from Goldman Sachs, Mizuho, and BTIG, which placed their 12-month forecasts between $121 and $130. Between July 2-10, four rival desks moved in the same direction within eight days, with Mizuho's Dan Dolev lifting his target to $130 from $115, Compass Point's Ed Engel raising to $130 from $107, Bank of America going to $132 from $119 with a Buy rating, and Morgan Stanley maintaining a Hold rating while raising to $124 from $95. That makes seven desks acting inside nine days, with three other banks showing static yet high targets including China Renaissance at $156.80 (Street-high), BTIG at $125, and Piper Sandler at $135. Recent analyst sentiment shows a 'Moderate Buy' consensus from 25 analysts by early July 2026, including 17 'Strong Buy' recommendations, with the average analyst price target around $107.12 and some firms issuing higher forecasts reaching up to $135.00.
Despite a notable 47% year-over-year decrease in cryptocurrency trading revenue in fiscal Q1 2026, Robinhood demonstrated strong performance across other key areas. Net Deposits reached $17.7 billion in fiscal Q1 2026, representing an annualized growth rate of 22%. Robinhood Gold subscribers increased by 36% year-over-year to a record 4.3 million, contributing $50 million in subscription revenue, up 32%. Equities revenue also saw a significant boost, rising 46% year-over-year in fiscal Q1 2026, while options revenue grew by 8%. Total Platform Assets increased 39% year-over-year to $307 billion, and Robinhood Retirement Assets Under Custody (AUC) surged 90% year-over-year to a record $27.4 billion. The company's Net Interest Revenue grew 24% YoY in Q1 2026, driven by a 93% YoY growth in the margin book to a record $17.0 billion.
Robinhood Chain's mainnet launch on July 1 has delivered exceptional results, with the network's 24-hour DEX volume climbing high enough to place it third among all chains tracked by DefiLlama data within thirteen days. The pace matters more than the rank, with daily volume growing from $0.4 million on launch day to $868.8 million by July 12, representing a 6,752% jump week-over-week. This achievement puts a 12-day-old network at 72% of the daily volume on Solana, the chain that has led DEX activity for most of the cycle. The record $877.6 million day landed on July 10, the same day Morgan Stanley, Bank of America, and Barclays moved their price targets. Bernstein analysts measured the debut at $3.1 billion in DEX volume across the first seven days, with more than 65,000 users holding roughly $13 million in tokenized stocks and $300 million in stablecoins on the network. The flow remains speculative for now, with meme coin Cash Cat leading all tokens with $299 million in volume after the record DEX volume day of $563.9 million on July 8.
The second catalyst driving analyst optimism is agentic trading, with more than 70,000 agentic accounts opening within weeks of the May 27 launch, and Robinhood confirming AI agents will trade crypto next for eligible US customers. Regulators are closely watching these developments, with House Democrats sending the SEC 13 questions on agentic trading and setting a July 31 deadline for answers, warning that herding agents could amplify volatility. The third catalyst is Robinhood's credit card business expansion, with the company gauging demand for at least $400 million in bonds backed by its credit card bills, its first offering of this kind. The sale could reach $500 million across four parts, with enough customers now spending on Robinhood's cards that their monthly bills alone can back a $500 million bond. Barclays and Wells Fargo are running the sale, with the card business growing since March when Robinhood introduced a $695 platinum card aimed at American Express customers.
Robinhood shares had risen almost 40% over the past month and about 80% over the past few months before the latest pullback. The stock closed Thursday at $115.11, up 1.39%, while trading volume remained below its average of roughly 32 million shares. According to Yahoo Finance data, premarket trading initially pushed HOOD more than 3% higher and pointed to an opening above $118.50, but the stock fell to about $110.17, down 4.29%, after briefly trading near the $118-$119 area. The intraday chart showed a sharp break below $115 shortly after the opening bell, followed by a short rebound toward $113. On Stocktwits, retail sentiment around the Vlad Tenev-led company improved to 'neutral' from 'bearish' territory over the past day, accompanied by chatter at 'normal' levels. The stock has gained about 65% since March 31, 2026, demonstrating strong recovery momentum despite recent volatility. The daily chart from TradingView showed HOOD trading near $109.08, down 5.24%, after the stock failed to hold its recent move toward $120.03, testing the 78.6% Fibonacci retracement at $109.33.
The daily chart from TradingView showed HOOD trading near $109.08, down 5.24%, after the stock failed to hold its recent move toward $120.03. The price was testing the 78.6% Fibonacci retracement at $109.33, making the $109-$110 area an important support zone. Should that level fail, the setup identified the next retracement levels at $100.93, $95.03, and $89.13. On the upside, the recent high near $120.03 remains the main resistance area and the level HOOD would need to clear for another breakout attempt. Momentum indicators remained mixed, with the daily RSI near 58 and the MACD staying above zero as its histogram weakened. The $110-$115 range has become a critical support level, with the stock's ability to hold above this zone determining near-term direction.
