Shares of Robinhood Markets Inc. (HOOD) were ticking higher in Monday's premarket, which might feel a bit surprising if you've been watching the stock lately. It's down about 35% for the year so far. But there's a fresh batch of data to digest, and it tells a story of a company that's successfully building something new while its core business shows some interesting, if mixed, results.
The company just dropped its monthly operating figures for February 2026. The headline grabber is probably the cash management update. Robinhood tweaked its High-Yield Cash program, which prompted over $6 billion in customer cash to move from "sweep" balances into free credit balances. It's the kind of backend shift that might not make headlines, but it shows the platform's money-moving mechanics are active.
The crypto numbers are a tale of two platforms. Total crypto notional trading volume hit $25.0 billion, which is a hefty 74% jump from a year ago. But dig into that, and you find that trading volume specifically on the Robinhood app was $9.4 billion, down 35% year-over-year. The difference? A big chunk, $15.6 billion, came from Bitstamp, the crypto exchange Robinhood acquired. So, Robinhood's overall crypto footprint is growing massively, but it's being driven by its acquisition, not necessarily more trading on its own app.
Total assets on the platform stood at $314 billion at the end of February. That's down 3% from January but still up a very healthy 68% compared to February 2025. The real engine for that year-over-year growth appears to be net deposits—new money coming in from customers. February saw $5.6 billion in net deposits, which translates to a 21% annualized growth rate based on January's asset base. Over the last twelve months, net deposits totaled $67.8 billion, for a 36% annual growth rate. People are still putting money into Robinhood accounts at a impressive clip.
The $1 Billion Banking Bet
Perhaps the most intriguing news is separate from the monthly data. Robinhood's new banking division, a key part of its plan to be more than just a broker, has crossed $1 billion in deposits. It hit that milestone just four months after launch, thanks to 65,000 funded customers. For a company trying to build a "super app," getting people to trust it with their banking money is a huge step. A billion dollars in a few months suggests that step is working.
What the Charts Are Saying
So, the business is launching new ventures and gathering deposits. What does the market think? The technical picture is... conflicted.
The stock is currently trading 2.6% below its 20-day simple moving average and a more concerning 31.9% below its 100-day average. That paints a bearish picture for the short to medium term. Yet, zoom out: shares are up 74.65% over the past 12 months and are trading closer to their 52-week highs than lows.
The momentum indicators can't seem to agree either. The Relative Strength Index (RSI) sits at 38.89, which is neutral territory—the stock isn't overbought or oversold. Meanwhile, the Moving Average Convergence Divergence (MACD) is showing a bullish signal, as the MACD line is above its signal line. The message from the charts seems to be: there's no strong trend right now, but the conditions might be setting up for a move higher.
Technicians are watching key resistance at $85.00 and key support at $70.50.
Wall Street analysts, for their part, are still broadly positive. The consensus rating is a Buy, with an average price target of $136.59—a hefty premium to the current price. Recent actions have seen some target trimming, however. Mizhuo lowered its target to $110 on March 13, and both Cantor Fitzgerald and Mizhuo (in a separate action) lowered targets in mid-February.
The Robinhood Report Card
How does Robinhood stack up against the broader market? One way to look at it is through a multi-factor scorecard that ranks it on value, growth, and momentum.
- Value Rank: 17.68 — This is very low, meaning the stock is trading at a steep premium compared to its peers. It's not a bargain-bin value play.
- Growth Rank: 83.75 — This is high, indicating the market sees strong growth potential in the company's future.
- Momentum Rank: 83.83 — Also high, confirming that despite recent weakness, the stock has been a strong performer overall.
The verdict from this analysis? It's a classic "high-flyer" setup. The strong growth and momentum scores justify investor excitement, but the rock-bottom value score is a flashing warning sign that the stock is priced for near-perfect execution. The suggestion for investors is to potentially ride the trend but manage risk carefully.
A Favorite of Thematic ETFs
Robinhood isn't just on individual investors' radars; it's a staple in several popular thematic exchange-traded funds (ETFs). This means buying those ETFs is an indirect bet on Robinhood's success.
As of Monday's premarket session, Robinhood shares were up 1.92%, trading at $74.80.
