TLDR
- Robinhood (HOOD) stock rose 5% after unveiling new products at its HOOD Summit.
- New tools include AI trading agents, weekend stock trading, and crypto perpetual futures.
- Robinhood Agents has drawn 150,000 users and handles nearly 30 million tool queries daily.
- Deutsche Bank cut its price target to $134 but kept a Buy rating.
- Morgan Stanley kept a $150 price target, implying 30% upside.
Robinhood Markets (HOOD) stock climbed 5% Wednesday. The move followed a wave of new product announcements from the company.
The news came out of Robinhood’s third annual HOOD Summit, held in Houston. This year’s event was called “Engines of Creation.”
CEO Vlad Tenev framed the announcements around giving retail traders tools once limited to institutions. “Ownership doesn’t work without markets, and markets don’t work without traders,” he said.
What Robinhood Announced
The biggest reveal was an expansion of Robinhood Agents. This lets users build AI-powered bots that track markets and place trades on their behalf.
More than 150,000 customers have opened agentic trading accounts since the feature launched in preview back in May. Those agents now process close to 30 million tool queries every day.
Robinhood also plans to roll out weekend trading for U.S. equities next year. That builds on the 24/5 trading option it introduced back in 2023.
Options trading hours are getting a boost too. Select contracts will now trade from 7:30 a.m. to 4:15 p.m. ET.
On top of that, Robinhood revealed plans to offer crypto perpetual futures. These contracts give traders leveraged crypto exposure without needing to hold the actual coins.
Analysts React
Deutsche Bank’s Brian Bedell trimmed his price target on HOOD from $138 to $134. He kept his Buy rating in place.
Bedell called the announcements a sign that Robinhood is moving quickly across AI, prediction markets, and crypto. He noted the new tools will still take time to gain real scale.
He did not change his financial estimates for the company following the summit.
Morgan Stanley’s Michael Cyprys was more bullish. He said Robinhood delivered on the two products he was watching most closely: Agents and U.S. perpetual futures.
Cyprys reiterated his Buy rating and kept his $150 price target. That implies roughly 30% upside from current levels.
He added that the broader platform expansion could help Robinhood pull in more customer assets and boost trading activity per user.
The Bigger Competitive Picture
The announcements put Robinhood further into direct competition with crypto platforms like Coinbase. Coinbase has already pushed into derivatives and other financial products.
Traditional brokers are moving too. Charles Schwab added 24/7 trading in select crypto futures on its thinkorswim platform earlier this year.
According to TipRanks, HOOD stock currently carries a Strong Buy consensus rating. That’s based on 19 Buy ratings and two Holds over the past three months.
The average analyst price target sits at $138.49. That implies about 19% upside from current trading levels.
At the time of publication, Robinhood shares were trading 5.42% higher at $122.52.
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