Robinhood Markets stock price jumped 6.4 percent on Wednesday and closed at $48.85. The stock touched intraday high at $50.52 before closing with 6.4 percent gains over the last close. Robinhood was recently recommended as BUY in a research note from Bank of America analysts. Cryptocurrency markets were witnessing strong selling and Bitcoin was trading at $84.500 at the time of publication of this report. Ethereum and Solana were also trading with nearly 6 percent decline. Bitcoin briefly went below $82,500 during todays' session. Robinhood stock was in high demand despite selling pressure in Nasdaq and Cryptocurrency markets.

BofA Securities Reaffirms 'Buy' Rating for Robinhood Markets with a $65 Target Price

Robinhood Markets Inc. (NASDAQ: HOOD) continues to capture investor confidence, with BofA Securities maintaining its ‘Buy’ rating and setting a price target of $65.00. The stock has delivered an extraordinary 194.55% return over the past year, underscoring its momentum in the retail trading space. The reaffirmation follows a virtual investor meeting on February 25 with Robinhood’s Chief Financial Officer, Jason Warnick, which included institutional participants from major Asia-Pacific financial hubs such as Hong Kong, Singapore, and Tokyo.

Why BofA Remains Bullish on Robinhood

1. Growing Retail Investor Engagement

Robinhood has witnessed surging retail participation, reinforcing its market position as a preferred trading platform for self-directed investors.
The company’s unique user experience and commission-free model continue to drive strong customer acquisition and retention.
2. Exceptional Revenue Growth

Over the last 12 months, Robinhood has recorded an impressive 58.23% revenue growth, reflecting its expanding market reach and diversified offerings.
The platform’s organic growth strategy and scalability of operations are seen as key drivers for future financial performance.
3. Large Addressable Market & Expansion into Crypto

Robinhood operates in a large total addressable market (TAM) that includes self-directed retail investors and cryptocurrency traders.
As digital asset adoption increases globally, Robinhood is well-positioned to capitalize on rising interest in crypto trading.

Key Takeaways from the Investor Meeting

BofA Securities outlined four pivotal insights that reinforce its bullish stance on Robinhood:

1. Surging Adoption of Robinhood Gold

Robinhood Gold, the platform’s premium subscription service, is gaining traction faster than expected.
Increased adoption enhances customer lifetime value (CLV) and fosters stronger platform engagement.
2. Expanding Operating Margins

Robinhood’s long-term profitability outlook is improving, with significant potential for operating margin expansion.
The company’s ability to scale while maintaining cost efficiency supports sustainable earnings growth.
3. Strengthening Cryptocurrency Offerings

Robinhood is expected to broaden its cryptocurrency product suite, catering to the rising demand for digital asset trading.
Enhanced crypto services could boost trading volumes and drive additional revenue streams.
4. Strong Net Deposit Growth

The company continues to report robust net deposit growth, a critical metric that reflects customer trust and increased capital inflows.
Sustained deposit growth underpins Robinhood’s long-term business stability.

Technical Analysis: Momentum and Key Levels

Candlestick Pattern Analysis

Robinhood’s recent price action exhibits a strong bullish trend, supported by consistent higher highs and higher lows.
The formation of a Bullish Engulfing pattern suggests continued upside momentum in the near term.
Fibonacci Retracement Levels
Using the 52-week high of $65.00 and the 52-week low of $7.60, the Fibonacci retracement levels indicate:

The 38.2% retracement level of $28.50 could act as initial support, while the 50% and 61.8% retracement levels serve as stronger downside buffers.
On the upside, breaking above $60.00 could push Robinhood toward new highs.
Support and Resistance Levels

Immediate Support: $50.80, aligning with a recent consolidation zone.
Immediate Resistance: $58.70, a breakout beyond this level could signal a move toward the $65.00 price target.