Truist Sees Double-Digit Q2 Upside With $100 Target as Meta's Arena Weighs on Robinhood Shares
HOOD•Truist reiterated a Buy rating on Robinhood with a $100 target after June trading volumes suggest double-digit Q2 transaction revenue upside and mid-to-high-single-digit total revenue growth. Cantor and Argus raised targets to $130 and $110 while Meta’s in-house “Arena” app launch shaved about 1-2% off Robinhood shares.
1. Bullish Volume Trends
Truist reports June equities, options and prediction market volumes pacing record levels, suggesting double-digit Q2 transaction revenue growth and mid-to-high-single-digit overall revenue gains for Robinhood.
2. Analyst Price Target Increases
Cantor Fitzgerald raised its Robinhood target to $130 citing upcoming product launches, while Argus lifted its target to $110 after the company’s 10% workforce reduction aimed at boosting efficiency.
3. Competitive Pressure from Meta
Meta’s internal “Arena” prediction markets app, leveraging its 3.5 billion daily users, drove Robinhood shares down roughly 1-2% on concerns over intensified competition in the event-contract space.
