Evercore initiates Robinhood at Outperform with $130 target

Evercore ISI initiated coverage of Robinhood Markets with an Outperform rating on Monday, October 12, 2026. The research firm set a 12-month price target of $130 per share.

Evercore described Robinhood as an impressive company that built a significant user and deposit base quickly. The firm expects Robinhood to maintain deposit growth above 20%, supported by a product ecosystem aimed at serving a more affluent customer base as a one-stop financial shop.

The brokerage firm highlighted Robinhood's track record of turning new offerings into $100 million revenue generators, noting it now has 13 such products. Evercore also pointed to growth opportunities in prediction markets, the Chain business, international markets, and institutional services. Additionally, lower reliance on cash spreads helps protect the company from structural headwinds.