The Robinhood (HOOD) stock price has extended its fall in the pre-market trading session today, despite a bullish outlook from market experts. Recently, a renowned analyst has raised its outlook for the stock price of the online-brokerage firm, which has caught the eyes of traders.
Notably, this bullish call comes after Morgan Stanley has also lifted its outlook for the HOOD stock. However, it appears that the cautious sentiment in the broader crypto market might have hindered the much-anticipated rally in the Robinhood stock price.
Analyst Raises Robinhood Stock Price Outlook
According to the latest updates, Piper Sandler analyst Patrick Moley raised his Robinhood stock price target to $145 from $135. The firm has maintained its “Overweight” rating on the HOOD stock.
Meanwhile, the latest improved forecast is primarily based on Robinhood’s prediction market business catalyst. For context, the analyst sees football season as an important revenue opportunity. On the other hand, the robust revenue recorded by the Robinhood Chain has also adds to the bullish case surrounding HOOD stock price.
The NFL and NCAA seasons are in focus now after a summer supported by World Cup-related prediction activity. That shift could increase trading activity across Robinhood’s event-contract platform, the analyst noted.
Piper Sandler expects prediction market volumes to rise sharply through the final months of 2026. Its base case points to about 29.7 billion event contracts between September and December. The firm estimates that could produce roughly $320 million in revenue during that period, or $960 million on an annual basis.
HOOD Stock Retreats Despite Bullish Outlooks
The Robinhood stock price ended the prior session at $103.51, down 1.24% from its prior close. The stock has extended its move towards the south in the pre-market session today, losing another 1.3% to $102.13. Despite that, the HOOD stock has added around 20% over the past month.
Meanwhile, it’s worth noting that the slump comes amid a selloff recorded in other crypto stocks as well as in the broader digital assets space. However, considering the closing price of $103.51 on Tuesday, it seems that Piper Sandler is expecting a surge of around 40% in the asset’s price.
It’s worth noting that Piper Sandler is not alone in becoming optimistic about Robinhood stock price. Morgan Stanley recently upgraded HOOD stock price to Overweight from Equalweight. It also increased its price target to $150 from $124.
Meanwhile, with the NFL and NCAA seasons driving significant trading volumes, users interested in capitalizing on these trends can compare the best sports prediction market platforms available today.”
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