New York, July 12, 2026, 18:09 (EDT)
Robinhood Markets, Inc. NASDAQ:HOOD finished Friday at $111.97, dropping 2.7%. The stock hit $119.43 at its session high before losing 6.2% from there. Three brokerages lifted their price targets over the last two sessions of the week. Volume came in at 25.9 million shares, roughly 83% of the 65-day average. U.S. cash equity markets were shut Sunday.
The bounce after the drop was more important than the drop itself. From the close on July 2 before the Independence Day break through Friday, Robinhood fell 0.7%. By comparison, the S&P 500 was up 1.2% and the Nasdaq Composite rose 1.7% for the week. That left the stock lagging the Nasdaq by about 2.4 percentage points as new price targets left less space for mistakes instead of pushing the valuation wider.
Benjamin Budish at Barclays PLC NYSE:BCS bumped his target up to $122 from $82 and held his Overweight call. Michael Cyprys at Morgan Stanley NYSE:MS raised his target to $124 from $95 but kept Equal Weight. Craig Siegenthaler at BofA Securities, under Bank of America Corporation NYSE:BAC, went to $132 from $119 and maintained Buy. These new price targets average $126, up 27.7% from the previous average, but just 12.5% over Friday’s close and 5.5% above the stock’s intraday high. Cyprys said brokers and exchanges may post “slightly better-than-consensus Q2 earnings” with stronger volumes and more volatility. StreetInsider.com
Robinhood’s valuation stands apart. The trading app’s trailing P/E sits at 54.4, near where Coinbase Global, Inc. NASDAQ:COIN trades at 58.5. That’s far ahead of Interactive Brokers Group, Inc. NASDAQ:IBKR with a P/E of 40.4 and The Charles Schwab Corporation NYSE:SCHW at 20.5. The stocks moved unevenly Friday, too.
| Company | Friday close | Friday move | Trailing P/E |
|---|---|---|---|
| Robinhood | $111.97 | fell 2.7% | 54.4x |
| Coinbase | $159.07 | added 0.4% | 58.5x |
| Interactive Brokers | $94.09 | dropped 1.3% | 40.4x |
| Charles Schwab | $103.12 | rose 1.2% | 20.5x |
Trading activity is the key for Robinhood. In a June filing, the company said its average daily trading volumes for that month had set new highs in stocks, options and prediction markets, with those contracts tied to event outcomes. Second-quarter numbers are expected after 5 p.m. EDT on July 29.
First-quarter revenue climbed 15% to $1.07 billion. “Other” transaction revenue, driven by event contracts, surged 320% to $147 million. Crypto transaction revenue dropped 47% to $134 million. Net interest revenue rose 24% to $359 million. CFO Shiv Verma said at the time, “Q2 is off to a good start,” pointing to higher equity and options trading in April. Robinhood Markets, Inc.
On-chain data gives another look at activity levels. DefiLlama’s Sunday numbers showed Robinhood Chain’s decentralized-exchange volume at $847.67 million for 24 hours and $2.31 billion over the past week. Users trade right on the blockchain on these platforms. The tracker listed $154,362 in chain fees and zero chain revenue — these are network-level estimates, not official Robinhood revenue. At the July 1 launch, crypto boss Johann Kerbrat said decentralized finance adds “possibilities beyond what traditional finance can offer.” DeFi Llama
But that profit could slip if retail trading slows, crypto drops, or rate cuts hit interest income. If you just use Interactive Brokers’ 40.4 P/E on Robinhood’s latest $2.06 per share earnings, you get a price of about $83—around 26% less than where it closed Friday. That’s not a forecast. The companies also don’t have the same business lines.
Macro data comes in heavy this week. June CPI lands Tuesday at 8:30 a.m. EDT, with PPI Wednesday, same hour. Fed Chairman Kevin Warsh goes before the House on Tuesday and the Senate on Wednesday, both at 10 a.m. EDT. Robinhood earnings aren’t out until July 29. A stronger inflation number and higher Treasury yields could pressure a stock trading at over 50 times trailing earnings.
Friday’s $119.43 high is now the short-term level traders are watching. Testing that again puts Robinhood within 2.2% of Barclays’ raised target. If it can’t get back above, arguments stay focused on if record trading and blockchain volumes will deliver enough earnings to back up its current valuation. The next company figures come out July 29.
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