Robinhood Markets Inc. (NASDAQ:HOOD) shares are trading higher Tuesday. Factors include an expanded prediction markets partnership and a new IPO underwriting role, alongside fresh analyst price target increases.
- Robinhood stock is showing upward movement. What’s pushing HOOD stock higher?
Crypto.com Deal Expands Robinhood’s Prediction Markets
According to The Wall Street Journal, Robinhood struck a deal with Crypto.com to bring the crypto exchange’s yes-or-no event contracts into Robinhood’s prediction markets hub, alongside an equity stake in Crypto.com. The partnership adds Crypto.com to a growing roster of contract suppliers that already includes Kalshi, Interactive Brokers’ ForecastEx, and Rothera, Robinhood’s joint venture with Susquehanna International Group. Robinhood has recorded more than 16 billion event contracts traded in 2026, already surpassing the more than 12 billion traded across all of 2025.
Robinhood Joins Oura IPO Syndicate
Separately, The Wall Street Journal reported that Robinhood has landed its first-ever IPO underwriting role, joining the syndicate for smart-ring maker Oura’s upcoming public offering. Oura filed for its IPO seeking a valuation exceeding $16 billion, with Goldman Sachs, Morgan Stanley, JPMorgan, Allen & Co., and Jefferies serving as lead bookrunners. Robinhood is listed 18th in the syndicate, having received regulatory approval to underwrite deals just three months ago in June.
Analyst Activity
Goldman Sachs raised its price target on Robinhood to $142 from $124, maintaining a Buy rating, with analyst James Yaro citing the strong early performance of Rothera. Cantor Fitzgerald maintained an Overweight rating on Robinhood and raised its price target to $150.
Robinhood Shares Edge Higher
HOOD Price Action: At the time of publication, Robinhood shares are trading 3.28% higher at $126.11, according to data from Benzinga Pro.
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