Meet the Newest Addition to the S&P 500. The Stock Has Soared 925% Since Early Last Year, and It's Still a Buy Right Now, According to 1 Wall Street Analyst

Robinhood Markets' (NASDAQ: HOOD) stock price has gained over 925% since the start of January 2024. That's significantly more than some of the cryptocurrencies that make up a good chunk of its trading revenue. Bitcoin gained almost 150% in the same period. The pioneering brokerage firm has been boosted by a number of factors in the past couple of years, including its September inclusion in the S&P 500.Several analysts think the stock still has momentum. For example, Citizen JMP analyst Devin Ryan recently reiterated his Outperform rating and increased his price target from $130 to $170. Ryan thinks that Robinhood will beat analyst expectations for its upcoming Q3 results and sees several opportunities for growth.Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool