Why Robinhood Markets Inc. (HOOD) Received Analyst Approval This Week?

We recently published a list of 10 Stocks That Received Analyst Approval This Week. In this article, we are going to take a look at where Robinhood Markets Inc. (NASDAQ:HOOD) stands against other stocks that received analyst approval this week.

The US market performance in the last week was quite bullish, with the S&P, DOW, and NASDAQ boasting weekly gains of 3.71%, 3.73%, and 3.84% respectively. The week marked the last full week of the outgoing Democratic government, with Donald Trump set to be sworn in early next week.

Just like the last time he became President, Donald Trump is set to make some drastic changes once he takes over. His energy policy and stance on crypto will continue to be of focus for most traders. During the outgoing week, a lot of companies received the backing of Wall Street analysts, among them quite a few energy and automobile companies.

We looked at a few of those companies that received a boost from analysts this week. To come up with the list of 10 stocks that received analyst approval this week, we only considered companies with a market cap of at least $1 billion.

A successful business person confidently managing their finances on a mobile device.

Robinhood Markets Inc. (NASDAQ:HOOD)

Robinhood Markets Inc. is a financial services company that allows users to sell, buy, and trade cryptocurrency, stocks, exchange-traded funds, gold, and options. The company operates a mobile app platform called Robinhood. Morgan Stanley upgraded the company to Overweight and selected the trading app’s stock as its top pick.

President Donald Trump is planning to sign a special order to prioritize crypto regulation. Additionally, Bitcoin’s price is surging as the second presidential term of Donald Trump is about to start.

Regardless of past controversies, especially in the backdrop of the GME meme-trading saga a few years ago, HOOD’s stock prices showed a significant uptick in the last year. In the past 5 trading days, the company’s shares have gone up by 24%. That price movement is in sync with the strong balance sheet and profitability of the company, something investors are quite attracted to at the moment.

Overall, HOOD ranks 2nd on our list of received analyst approval this week. While we acknowledge the potential of HOOD as a leading AI investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as HOOD but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.