Mizuho raised the firm's price target on Robinhood (HOOD) to $130 from $115 and keeps an Outperform rating on the shares. The firm says that with 27M funded accounts, a "best-in-class" user interface, Gen-z appeal and an ambition to 10-times the business, Robinhood has a chance to become the first true global "hyperscaler" of online brokerages. Robinhood's playbook is similar to what Amazon Web Services (AMZN) and Microsoft Azure (MSFT) did to enterprise IT: enter a fragmented market with a "disruptive wedge," then rebuild into a platform others run on, the analyst tells investors in a research note. Mizuho expects Robinhood to increasingly focus on expanding into Europe and later into Asia. Product events like the one held yesterday in London demonstrate Robinhood's global ambition, the analyst tells investors in a research note.
