Buy Recommendation: April 29, 2026 [PREMIUM]

The Wall Street Dream
May 4
3 min read

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Robinhood Markets, Inc. (NASDAQ: HOOD)

Action: Buy (4th Recommendation)

Date: April 29, 2026

Buy Price: $71.20

3rd Recommendation (March 20, 2026): READ

Update

Since our most recent recommendation in March at $70.89, Robinhood shares closed at $71.20 on April 29, 2026, following the Q1 earnings release. The post-earnings drop was largely a crypto-driven disappointment combined with the classic “beat expectations or get punished” reaction. Crypto revenue fell 47% YoY to $134 million amid weak Bitcoin and broader digital asset prices, which dragged overall transaction revenue below consensus despite 15% total net revenue growth to $1.07 billion.

Importantly, crypto now makes up a meaningfully smaller piece of the business as Robinhood continues to evolve. Strong core metrics remain intact: Robinhood Gold subscribers hit a record 4.3 million (+36% YoY), net deposits reached $18 billion (22% annualized growth), funded customers grew to 27.4 million, and diversification is accelerating with prediction markets/event contracts revenue surging 320% to $147 million. The stock is still too closely tied to crypto sentiment and prices, even as recurring revenue streams (subscriptions and net interest) and non-crypto trading categories gain share.

The long-term transformation thesis is fully intact and gaining momentum. Major upcoming catalysts include the July 4, 2026 launch of Trump Accounts (where Robinhood was selected as the brokerage and initial trustee), which positions the company in front of millions of next-generation investors with government-backed customer acquisition at scale.

Bottom Line

We're issuing another Buy recommendation for Robinhood Markets, Inc. (NASDAQ: HOOD) at $71.20 as a core long-term holding in the Dream Picks portfolio. The post-earnings reaction over-emphasized temporary crypto weakness while underappreciating the durable progress in user growth, deposits, Gold subscriptions, and new revenue streams.

While volatility tied to crypto sentiment will likely remain part of the story in the near term, Robinhood’s evolving business mix and major catalysts ahead (Trump Accounts launch and more) reinforce its position as a high-conviction growth name. The long-term investment thesis is stronger than ever. We continue to hold our position and would view any further weakness on crypto noise as an attractive opportunity to add.

This article was written by The Wall Street Dream. AI tools were used to assist with editing and polishing, but all ideas and opinions are entirely our own.

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