Robinhood Now Runs 13 Revenue Lines Above $100 Million a Year. A 2-Month-Old Network Could Be Next.
Yahoo Finance ·
Robinhood ( HOOD +16.57% ) shares were up about 15% as of this writing Thursday, at about $123. The jump followed a wave of analyst notes and a record day on its own new blockchain network. Morgan Stanley upgraded the stock Tuesday to overweight from equal weight and lifted its price target to $150 from $124, and more bullish notes followed this week. Morgan Stanley analyst Michael Cyprys argued that Robinhood's expanding product lineup is producing more activity and more revenue per customer. In plain terms, they're arguing Robinhood is no longer just a trading app. And Robinhood itself put a number on that idea in late July: 13 business lines that have each reached $100 million or more in annualized revenue .
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