JMP Securities raises Robinhood price target to $165, keeps outperform

JMP Securities raised its price target on Robinhood (HOOD) to $165 from $155 and maintained its outperform rating. The Wall Street investment research firm said activity on the Robinhood Chain is expanding rapidly and its developer ecosystem is growing, which it expects to spur tokenization, AI, and smart finance innovation. JMP also said broader ecosystem growth is likely to support expansion in Robinhood’s core businesses, including trading, lending, and stablecoins.