BofA ups Robinhood target on Q2 retail dip-buying

Robinhood Markets rose following a price target and estimate hike from Bank of America analysts.

(Robinhood Markets Inc. is the parent company of Sherwood Media, an independently operated media company subject to certain legal and regulatory restrictions. I own Robinhood stock as part of my compensation.)

The bank’s analysts covering the brokerage industry lifted their price target on the shares to $112 from $95 and raised their estimates on equity and options trading at the retail-focused brokerage, citing what they found to be a surprisingly persistent amount of “dip-buying” from retail traders following the worst of April’s tariff-related sell-off and subsequent bounce back.

“The pullback in retail equity trading following April’s spike in activity was more modest than anticipated,” they wrote.

BofA’s price target on Robinhood, which analysts rate a “buy,” implies a roughly 20% upside to where shares traded Wednesday. But they say they’re less bullish on the stock after its significant run-up, as it rose 120% over the last three months.

It’s the latest in a mini flurry of price target adjustments from analysts covering the shares — see Citi earlier this week — whose outlook for the stock has been overtaken by the move in the share price.