Robinhood shares are up 220% this year, beating the S&P

Robinhood and Coinbase keep running ahead of the S&P this year, and both stocks show no sign of slowing down. This rally has turned into one of the loudest stories in the market.

Traders keep watching the charts because these two names refuse to sit still. The moves come from real numbers, steady product launches, and banks arguing that each company still has more room to climb.

Robinhood sits at the front of the pack with a massive jump this year. Coinbase follows with its own push as it rolls out more products to cut down on revenue swings. Both companies now hold buy ratings from major banks, and both analysts laid out clear cases for future gains.

Truist sees Robinhood gaining more momentum

Truist put a buy rating on Robinhood and set a $155 price target, which implies about 30% potential upside. Analyst David Smith said the “current optically lofty valuation” made sense because of the company’s growth path and profit strength.

He expects the company to deliver a second straight year of revenue growth above 50%. He also thinks the next few years can hold around 20% yearly expansion.

David said the growth comes from a stronger mix of revenue streams. Robinhood keeps rolling out new tools while improving older ones, and this has helped bring in more users with bigger accounts. He said prediction markets have become one of the fastest-growing products the company has ever launched.

David wrote, “HOOD’s leading product velocity has driven sizable growth in key metrics & share gains as the company expands its addressable customer universe, allowing it to keep moving upmarket towards larger wallets.” He added that this pace, paired with solid scale economics, supports more margin expansion even with strong pricing.

Smith pointed out that the company’s margins have improved since it turned profitable in 2022. He said both margin expansion and strong growth give a solid case for more gains in the stock. He wrote, “The company is one of the top performers in the S&P in terms of both growth and margins.”

David also noted that banking and advisory services are still early, and the company has barely started tapping international and institutional customers.

He said this leaves a long track for “outsize growth for HOOD.” Shares have jumped 220% this year and moved up another 1% in premarket trading.

Deutsche Bank backs Coinbase as it expands products

Deutsche Bank gave Coinbase a buy rating and set a $340 price target, which implies about 35% upside.

Analyst Brian Bedell said the exchange’s push into more products gives it a stronger path for growth. He said these new tools can widen the company’s market, diversify its services, and ease any future pressure from retail crypto-trading fees.

Brian wrote that the company can benefit from the next phase of its evolution by leaning on its position in the crypto world and turning it into a wider on-chain platform with many features under its “everything exchange” plan. He said the blend of TradFi and DeFi, plus more people using on-chain systems, can help the company over time.

Brian views 2025 as a heavy investment year. But he also said the company is in a good spot to scale those investments into 2026 and beyond. He thinks revenue growth could beat expense growth in a decent crypto market. That would push earnings higher while reducing the wild swings the exchange dealt with before.

Brian then wrote, “While crypto prices, trading volume & sentiment will remain key contributors to the company’s financial results, we see its diversification efforts and organic growth potential as helping to reduce the historical extreme swings in revenue & adjusted EBITDA.”

Coinbase shares have gained 2% this year.

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