Bernstein: Outperform rating on Robinhood

Bernstein predicts a "monster crypto cycle" for this year and next. The research firm has started rating Robinhood markets Inc. as outperform. Analyst Gautam Chhugani suggests investors should seize the opportunity for a "crypto comeback" and expects the online brokerage's crypto trading volume to increase ninefold in the next two years.

We believe now is the best time to enter Robinhood, with an 18-24 month window to ride the crypto recovery. The analyst has set a target price of $30 for the stock.

Among analysts tracked by Bloomberg, 6 rate the stock as a buy, 10 recommend holding, and 3 recommend selling.