What's Going On With Robinhood Stock Today?

Robinhood Markets Inc HOOD stock is trending on Wednesday after hitting all-time highs. Here’s a look at what you need to know.

What To Know: Robinhood is expected to provide an update on June trading metrics this week, according to the company’s investor relations site. Robinhood also held its annual shareholder meeting on Wednesday.

The Robinhood website says the company is anticipated to release “month-to-date trading color” for June after the market close on Thursday. Earlier this month, the company provided early color on May operating data ahead of a presentation at the Piper Sandler Global Exchange & Trading conference.

As of the end of May, Robinhood said it had 25.9 million funded accounts and $255 billion in platform assets, up 89% year-over-year. The company reported $3.5 billion in net deposits for the month and $59.1 billion in total deposits over the past year.

Equity trading volumes rose 108% to $180.5 billion, while options contracts increased 36% to 179.8 million. Crypto volumes were also up 65% to $11.7 billion last month.

Robinhood may also be getting a boost in recent trading sessions after a director disclosed the purchase of nearly $2 million in common stock, the first insider buy reported in several years, according to Benzinga’s Insider Trades data.

Recent analyst updates suggest analysts are turning more bullish with Mizuho maintaining an Outperform rating and raising its price target to $80 last week. Goldman Sachs also reiterated a Buy rating earlier this month and raised its target to $82 and Deutsche Bank lifted its target to $85.

Robinhood CEO Vlad Tenev said on CNBC this week that retail investor activity has remained strong despite rising geopolitical tensions in the Middle East. He noted that while such events once triggered volatile overnight moves, current investor sentiment appears largely unaffected, with continued focus on growth stocks like Nvidia and Tesla, as well as crypto assets.

HOOD Price Action: Robinhood shares were up 0.44% at $82.37 at the time of writing. The stock hit another all-time high of $85.55 earlier in Wednesday’s trading session, according to Benzinga Pro.

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