On June 17, Robinhood Markets rose 3.02% in regular trading, trading near $99.53 per share with turnover of $3.76 billion, driven by multiple converging catalysts.

On the news front, Deutsche Bank raised its target price on Robinhood from $98 to $105, maintaining a buy rating. The analyst consensus now stands at an average target of $102.91 with an overweight rating. This follows recent upgrades from Goldman Sachs (target raised to $108) and Needham (target raised to $97), reflecting broad institutional confidence in the company's growth trajectory.

Meanwhile, the spillover effect from SpaceX's June 12 Nasdaq debut — the largest IPO in history raising approximately $75 billion at $135 per share — continues to benefit Robinhood. As the only retail brokerage offering unconditional IPO access to all account holders, the platform reported record-high traffic and sustained elevated user engagement.

Additionally, Robinhood announced a roughly 10% workforce reduction aimed at flattening management layers and boosting operational efficiency. The restructuring is expected to incur approximately $28 million in severance and equity compensation charges, while CEO Vlad Tenev emphasized the business remains strong but requires a lean, focused team.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)