Mizuho analyst Dan Dolev reiterated a Buy rating on Robinhood Markets, Inc. (NASDAQ:HOOD), raising the price forecast to $20 from $17.
Robinhood said total funded customers grew to 23.6 million at the end of February, up approximately 130,000 from January.
AUC accelerated to ~$120 billion, trading volumes for all assets re-accelerated sequentially, and traders were the most active since January ’22, Dolev writes.
Most significantly, net deposits for the quarter so far have already reached >$7 billion, well ahead of the prior high quarter of $4.6 billion, the analyst adds.
According to the analyst, this ...