Robinhood Markets (HOOD) and Coinbase (COIN) both drew favorable Wall Street coverage on Friday tied to their cryptocurrency businesses. Robinhood stock and Coinbase stock both rallied for a fourth straight day, extending this week’s gains and massive rallies in the past year.
Analysts at Morgan Stanley selected Robinhood app as a top stock pick. That comes after three Wall Street firms named the zero-fee stock and cryptocurrency trading app a top stock idea earlier this week.
Meanwhile, analysts at Oppenheimer shrugged off the recent Coinbase sell-off, citing several reasons to like the cryptocurrency exchange platform, including a “pro-crypto” incoming president.
‘Finest’ Financial Stock, ‘Best’ Cryptocurrency Asset
On Friday, Morgan Stanley named Robinhood Markets its top pick due to multiple growth drivers not yet reflected in its valuation, according to TipRanks.com. Analyst Michael Cyprys said he sees room for Robinhood to grow in cryptocurrencies, especially due to expected looser regulations under President Donald Trump, whose inauguration is set for Monday. Further, sustained retail engagement and higher capital markets activity could boost revenue estimates for the online broker, the analyst said. Cyprys set a $55 price target on buy-rated HOOD stock.
On Wednesday, Morgan Stanley added Robinhood stock to its “Financials’ Finest” list, according to TheFly.com. The firm’s analysts said they see a sustainable business model, as “opposed to a meme stock,” with many growth drivers. The firm has a $55 price target on overweight-rated shares.
On Tuesday, Bernstein named Robinhood its new “Best Idea in Global Digital Assets” as well. The firm’s analysts also cited a more favorable outlook for the Robinhood Crypto business. President-elect Trump has a friendly view of digital currencies. The analysts set a $51 price target on outperform-rated shares.
On Monday, JMP Securities raised its price target on outperform-rated Robinhood stock to $60 from $53, TheFly.com said. The firm also cited a more favorable regulatory environment under Trump. They named HOOD among four top stock ideas with the most compelling risk-reward profile.
Robinhood Stock Hits Fresh High, Coinbase Rallies
HOOD shares jumped nearly 7% to 49.22 in Friday’s stock market trading, after clearing a short consolidation on Wednesday. Robinhood stock made a 52-week high intraday, extending this week’s rally to more than 20%. The online brokerage stock has bagged a 31.7% gain in 2025 so far. It has more than quadrupled in the past year, skyrocketing more than 350%.
COIN stock rallied 5.2% on Friday, getting back above the 50-day moving average intraday. It’s still about 15% below the Dec. 6 high but up almost 15% this week.
On Friday, analysts at Oppenheimer said they see the Coinbase selloff since December as a buying opportunity. The firm expects a “very good” fourth-quarter report next month and possible inclusion in the S&P 500 in 2025. They also expect more regulatory clarity under “pro-crypto” President Trump. But the firm trimmed its price target on outperform-rated Coinbase stock to $334 from $358.
Robinhood and Coinbase are both expected to next report earnings in February.
Robinhood’s gains in the last year left rival online stock or cryptocurrency brokers Charles Schwab (SCHW), Coinbase and Interactive Brokers (IBKR) in the dust, even though the former rose in the past year and the latter two more than doubled.
Robinhood has been profitable for the past several quarters, on robust revenue growth. Further fueling its rise this week, Robinhood stock received favorable analyst coverage as regulatory clouds lifted.
On Monday, Robinhood agreed to pay $45 million in penalties to settle an investigation by the Securities and Exchange Commission. The agency had accused the firm of failing “to observe a broad array of significant regulatory requirements, including failing to accurately report trading activity, comply with short sale rules, submit timely suspicious activity reports, maintain books and records, and safeguard customer information.”
In other financial news this week, the biggest bank stocks generally jumped amid stronger-than-expected earnings. The Bitcoin price surged on Friday, reaching above $104,000.
YOU MAY ALSO LIKE:
Why This IBD Tool Simplifies The Search For Top Stocks
Best Growth Stocks To Buy And Watch
IBD Digital: Unlock IBD’s Premium Stock Lists, Tools And Analysis Today
Looking For Market Insights? Check Out Our IBD Live Daily Segment
