Shares of Robinhood jumped 15.2% Thursday morning on a more favorable outlook for the company and after several analysts published positive reports about the brokerage firm's stock in recent days. That puts it on pace for the stock's largest percent increase since Sept. 8, 2025, when it rose 15.8%.

Other brokerage and financial company stocks were also rising Thursday. The Vanguard Financials ETF was up 1.3% Thursday and the S&P 500 index was up 0.9%.

Analysts from Morgan Stanley and Scotiabank upgraded Robinhood this week. A Piper Sandler analyst raised his price target as well. Shares of Robinhood were trading hands in New York at $121.88 as of midday Thursday.

Robinhood's stock soared during most of 2025. But because the company generates significant revenue from crypto trading, its stock often trades in tandem with cryptocurrency prices, and both fell sharply late last year. Shares have struggled this year; Robinhood stock is up 8.6% compared with a 13.1% gain for the S&P 500. The stock is also still below its all-time closing high of $152.46 on Oct. 9.

Lately, the stock has been benefiting from a jump in crypto prices; Bitcoin is up 25.6% over the past month. But the company has also been striving to expand its offering for customers and diversify its sources of revenue. In recent years, the company has added new banking, lending, wealth management, and other services for customers. It has also grown its subscription service, Robinhood Gold, which reached a record 4.8 million subscribers for the second quarter.

Morgan Stanley upgrade. Morgan Stanley analyst Michael Cyprys thinks Robinhood's efforts are bearing fruit, and he raised his rating of Robinhood stock to Overweight from Equal-weight on Sept. 1. "HOOD's expanding platform is turning product velocity into stronger customer economics: more assets, activity and monetization per customer, supporting a longer growth runway than appreciated," he wrote in a Sept. 1 research note.

Cyprys also raised his price target to $150.00 from $124.00.

The company has also been hosting flashy product launch events, where it debuts new features and offerings in front of hundreds of customers. Earlier this year, it hosted customers at the TWA Hotel at JFK Airport in New York for a product launch event dubbed "Take Flight" where Robinhood unveiled a new premium credit card and its robo-advisor.

Cyprys sees growing evidence that Robinhood is winning more business with existing customers. Assets per customer are up 23% year over year, he writes, adding that Robinhood's expanding offering gives customers more reasons to consolidate assets at the brokerage firm.

"A key question in our original work on HOOD was whether customers could grow with the platform or would move assets elsewhere as their balance and needs increased," he writes. "We see increasing evidence that HOOD is addressing this issue through retirement, Gold, banking, advisory, credit card, trusts and other wealth capabilities."

New trust accounts. The company has been steadily adding more capabilities that it hopes will enable it to generate more business with existing customers, especially as they age, acquire more assets, and develop new needs. Last month, Robinhood made available to all Robinhood customers trust accounts for their children; customers have deposited about $150 million in trust accounts with the average account size of more than $500,000, according to the company.

Steve Quirk, chief brokerage officer at Robinhood, says that Robinhood customers are thinking more about how to plan for their futures. "Our customers are entering their prime earning years, starting families, and accumulating real wealth," Quirk says. "Trust accounts are a natural next step, and we're seeing customers intentionally move meaningful assets to Robinhood because they trust us to support them through every stage of their financial lives."

Football season. Robinhood's prediction markets offering, which effectively allows customers to wager on sports and other events, is poised to benefit from the start of the professional and college football seasons.

Piper Sandler analyst Patrick Moley sees "meaningful upside" to Robinhood's prediction market revenue. He writes in a Sept. 2 research note that prediction market volumes were remarkably strong during the summer, even in August, historically one of the slowest months on the sports calendar.

Prediction market trade volumes undoubtedly got a boost from the World Cup. Given the company's U.S.-centric base, and the large gap in popularity between soccer and football in America, the football season should be "a significant catalyst" for Robinhood's third quarter and fourth quarter prediction market revenue, Moley writes. His base case assumes that from September through December 2026, Robinhood customers trade about 29.7 billion event contracts, generating approximately $320 million in revenue ($960M annualized), according to his research note.

The company is also trying to capture more of the economics of prediction markets trading through Rothera, a Commodity Futures Trading Commission-licensed exchange that Robinhood established in conjunction with Susquehanna International Group.

Moley rates Robinhood shares Overweight and he raised his price target to $145 from $135.

Also this week, Scotiabank analyst Lance Jessurun initiated coverage of Robinhood, rating its shares Sector Outperform. He has a price target of $136.

"The market still prices HOOD as a cyclical retail broker levered to equity, options, and crypto volumes, and on that framework the stock looks expensive," Jessurun writes in his Sept. 1 research note. "We think the framework is wrong: Robinhood now earns across five pools; transaction revenue, net interest, subscription, exchange and clearing economics, and international crypto infrastructure, and four of the five are structurally less cyclical than the trading line the multiple is anchored to."

Not every new initiative at Robinhood will be a home run, but the bull case for its stock doesn't require a perfect streak, Jessurun writes.