Wall Street analysts bet on Robinhood's potential to add users

The logo of Robinhood Markets, Inc. is seen at a pop-up event on Wall Street after the company's IPO in New York City, U.S., July 29, 2021. REUTERS/Andrew Kelly/File Photoin their first ratings on the stock as they bet on the online brokerage's ability to boost its user base, days after it warned of easing retail trading frenzy.

J.P.Morgan Securities was the lone bearish voice with an "underweight" rating, citing several risks, including regulation, pricing, and market saturation. But they were largely upbeat when it came to the company's long-term growth prospects. "We believe HOOD is well-positioned to continue to see best-in-class user growth, leveraging its innovative referral program and strong word-of-mouth customer acquisition," Goldman Sachs analysts said in a note, rating the stock "neutral".

"We expect HOOD will be a continued beneficiary of its strong brand recognition among younger investors, built through an effective, incentive-driven client acquisition model," Piper Sandler said, starting coverage with a "neutral" rating.

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