Shares of Robinhood Markets Inc experienced a noticeable uptick on June 3, climbing 6.46% during mid-day trading. The stock peaked at an intraday rate of $72.57 before closing slightly lower at $72.37. This recent increase brings Robinhood’s price just short of its 52-week high of $72.57, while significantly boosting its position from a 52-week low of $13.98, marking a remarkable 417.67% increase over the year. The trading volume reached 27,445,647 shares, accounting for about 62.5% of the average daily volume.
Analysts have provided diverse perspectives on the stock’s performance. The average price target from 18 analysts stands at $62.92, with projections ranging from a high of $105.00 down to a low of $40.00. This average target implies a potential downside of approximately 13.06% from the current trading price. Furthermore, a consensus from 21 brokerage firms indicates an average recommendation of 2.2, which suggests an “Outperform” status, highlighting optimism regarding Robinhood’s future.
However, contrasting estimates from GuruFocus suggest a GF Value of $28.24 for Robinhood in one year, indicating a substantial downside of about 60.98% from its current price. This valuation reflects historical trading multiples, business growth trends, and performance forecasts.
While the commentary provided does not serve as direct financial advice, it draws insights from analyst projections and historical data. Investors should be mindful that this information may not capture the most recent developments affecting the stock.
Overall, the significant spike in Robinhood’s share price displays the market’s renewed interest in the platform, amid a landscape of varying analyst predictions.