Robinhood Markets stock drops 3.9% despite Wall Street raising price targets across the board

Robinhood Markets saw its stock slide 3.9% on September 8, closing at $117.34 after briefly touching above $125 during the session. The move lower came on a day where broader market volatility triggered profit-taking across high-multiple names, and HOOD, trading at elevated valuations after a strong run, was squarely in the crosshairs. Three banks, three price target hikes, one red day Mizuho bumped its Robinhood price target from $130 to $140 in early September. Goldman Sachs went further, lifting its target from $124 to $142. Jefferies raised from $127 to $140. The consensus analyst rating sits at Strong Buy, with average price targets clustering around $131 to $132. At Monday’s close of $117.34, that implies roughly 12% upside to the consensus and nearly 21% to Goldman’s target. A $1.31 billion quarter tells the real story Second-quarter 2026 revenue hit $1.31 billion, a 32% jump year-over-year and a company record. The standout number buried in that earnings report: event contracts revenue surged more than 1,000%, reaching $156 million. That figure actually surpassed Robinhood’s crypto trading revenue for the quarter. Robinhood’s partnerships with Crypto.com and OG.com expanded...