Rosenblatt initiates coverage on Robinhood with a Buy rating and a $135 target price; JPMorgan raised its target price for the stock to $115 on the same day.

Investment bank and prime broker Rosenblatt Securities analyst Chris Brendler initiated coverage on Robinhood (HOOD) on Oct. 20, assigning a buy rating and $135 price target, which implies roughly 37% upside from the stock’s prior closing price. On the same day, JPMorgan raised its target price from $103 to $115 but maintained a neutral rating. As a result, Robinhood’s shares rose around 4.16% in Oct. 21 trading, closing near $102.29, with market participants focusing on the two firms’ divergence on valuation and growth prospects. Brendler described Robinhood as a “generational growth story” in his report, noting it has evolved from its origins as a commission-free trading app into a comprehensive financial platform covering brokerage, retirement accounts, credit cards, futures, index options and crypto assets, adding the market still underestimates the maturity of this transformation. He cited factors supporting a higher valuation premium than traditional brokerage peers: the core brokerage business continues to gain market share even at scale, the Pattern Day Trading regulatory reform removed key restrictions on high-value active clients, plus accelerated international expansion, deepened product lines, and a relatively fixed operating cost structure. By contrast, JPMorgan’s $115 target price reflects some recognition of recent business momentum, but its neutral rating signals caution on valuation levels and long-term sustainability. Wall Street’s overall consensus rating for Robinhood is “moderate buy” or “buy,” with an average target price in the $130–$135 range. Most analysts are optimistic about its growth potential from platform expansion and product diversification, though some warn of its high volatility and relatively elevated valuation multiples. The rating update comes ahead of Robinhood’s scheduled third-quarter earnings release on Oct. 27.