Citi, Piper Lift Robinhood Targets on Prediction‑Market Momentum

Overview

• Citigroup increased its Robinhood price target to $135 from $120 and kept a Neutral rating, citing elevated trading activity while preferring a more attractive entry point.
• Piper Sandler raised its target to $140 from $120 and reiterated an Overweight rating, with analyst Patrick Moley estimating roughly $200 million in sports‑betting inflows tied to prediction markets.
• Piper highlighted partner exchange Kalshi tracking toward record September volumes, helped by newly launched NFL and NCAA Football prediction markets.
• Robinhood appears among Renaissance Technologies’ 10 largest portfolio positions, underscoring institutional interest in the stock.
• Recent results provide context for the bullishness and caution: Q2 revenue rose 45% year over year to $989 million as net income climbed 105%.