Robinhood Volumes Hit Records as Meta’s Prediction App Sends Shares Down 2%
HOOD•Truist Securities reaffirmed a Buy rating and $100 price target on Robinhood after June equities, options and prediction market volumes hit records, projecting mid- to high-single-digit upside to Q2 revenues. Robinhood shares dropped 2% on news that Meta is building a points-based prediction market app for 3.5 billion users.
1. Analyst Ratings and Volume Update
Truist Securities maintained its Buy rating on Robinhood with a $100 price target after reporting that June trading volumes in equities, options and prediction markets reached all-time highs, suggesting potential mid- to high-single-digit upside to Q2 revenues.
2. Other Price Target Increases and Cost Actions
Cantor Fitzgerald raised its target on Robinhood to $130, citing new product launches and World Cup–driven prediction-market growth, while Argus lifted its target to $110 and highlighted a recent 10% workforce reduction aimed at improving efficiency.
3. Meta’s Market Entry and Stock Reaction
Shares fell about 2% when news broke that Meta Platforms will launch a points-based prediction market app named “Arena,” leveraging its 3.5 billion-user daily network—a move that intensifies competition in the prediction markets segment.
