Updated 12 November 2026, 07:30 GMT, before the US market open. Robinhood Markets (HOOD) closed Wednesday at $84.58, up 4.0 percent, after trading as high as $86.15 (MarketBeat). Verdict: Robinhood is one of six brokers that will sell Anthropic IPO shares to retail investors, and its CFO wants retail to get a bigger share of large deals. The stock is still 39 percent below its 52-week high, and every published analyst target sits above the current price. Analyst range: $100 to $135.
Key facts
- Wednesday close: $84.58, up 4.0 percent from $81.33, in an $82.07 to $86.15 range (MarketBeat). The S&P 500 rose 1.3 percent the same day.
- 52-week range: $63.52 to $139.75.
- Anthropic IPO: the amended S-1, filed on 10 November, names Robinhood Financial and TradePMR, a Robinhood company, among six retail distributors, with up to 20 percent of the shares going to retail investors depending on demand.
- Deal terms: 825 million Class A shares at $70 to $78, with pricing reported for 18 November and trading for 19 November (CNBC).
- CFO comment: Shiv Verma said Robinhood will take part and wants retail investors to receive larger slices of IPOs, but stressed that the issuer and its banks decide the split (Yahoo Finance).
- Q3 2026: total net revenue of about $1.42 billion, up 12 percent; 28.7 million funded customers; 5.2 million Gold subscribers, up 34 percent; net deposits of $16 billion (Robinhood Q3 release, as reported by StockTitan and others).
- Analysts: post-results targets range from $100 (Wells Fargo) to $135 (Rosenblatt). MarketBeat lists a consensus target of $129.70.
What the Anthropic IPO means for Robinhood
Anthropic’s filing allows up to 20 percent of its offering to go to retail investors, about double the usual share for a mega-cap IPO. At the $74 midpoint, that is worth roughly $12 billion. Robinhood customers can request shares through IPO Access at the offering price, and TradePMR, Robinhood’s adviser platform, is also named. Our report on the six brokers covers the filing, and the timetable is on our Anthropic IPO date page.
For Robinhood, IPO access is a way to win customers. It does not decide the allocation and does not guarantee shares to anyone who requests them. Verma has pushed for retail investors to get bigger slices of large listings, and on 9 November Robinhood extended commission-free IPO access to UK customers, as covered in our UK IPO Access report. A listing of this size tests whether that work brings in new deposits and new funded customers, the two figures that disappointed in Q3.
We have not found a report linking Wednesday’s 4 percent gain specifically to the Anthropic news. The broader market also rallied that day.
Why the stock is far below its high
Robinhood reported Q3 results in late October. Revenue reached a record of about $1.42 billion, up 12 percent, but that was roughly in line with or slightly below forecasts. Diluted EPS of $0.51 was lower than a year earlier. Funded customers rose 1.9 million to 28.7 million, slightly below the 28.9 million that MarketScreener cited as the consensus. Crypto revenue fell 55 percent, while options, equities and event contracts drove growth (TradingKey).
Five of the six sell-side analysts tracked by Blockchain.News cut their targets after the report. Wells Fargo cut to $100 from $120 and cited lower take rates. Goldman Sachs cut to $128 from $145, Needham to $116 from $126 with a Buy rating, and Keefe, Bruyette & Woods to $105 from $115 with a Market Perform rating. Rosenblatt held its Buy rating and $135 target. The stock was near $116 at the end of September, as our September Robinhood page shows, so the move since then has been a re-rating rather than a single bad day.
12-month analyst targets (low / mid / high)
| Case | HOOD | Who | vs Wednesday close |
|---|---|---|---|
| Low | $100 | Wells Fargo, cut from $120 after Q3 | about 18 percent above |
| Mid | $116 | Needham, Buy, cut from $126 | about 37 percent above |
| High | $135 | Rosenblatt, Buy, unchanged | about 60 percent above |
Every published target is above the current price, so even the low end implies upside. Analyst targets lag the share price and are not forecasts of where the stock will trade.
For short-term traders, the levels are closer. Wednesday’s $82.07 low and Tuesday’s $81.33 close are the first support below. Wednesday’s $86.15 high is the first level above.
What to watch
- Today, 14:30 GMT: whether the stock holds above $82.07, Wednesday’s low.
- 18 November: Anthropic’s reported pricing date, which sets the final retail share.
- 19 November: the reported first day of trading, and any figures from Robinhood on IPO Access demand.
- Monthly metrics: Robinhood’s October operating data will show whether customer activity has recovered from Q3.
Quick take: Robinhood closed at $84.58 on Wednesday, up 4 percent, as one of six brokers named to sell Anthropic IPO shares. The deal could bring in new customers, but Robinhood does not control the allocation. The stock is 39 percent below its 52-week high, with targets from $100 to $135 after most analysts cut them in late October.
FAQ
Can I buy Anthropic IPO shares on Robinhood?
Robinhood Financial is one of six brokers named in Anthropic’s amended S-1 to offer shares at the IPO price. Customers request shares through IPO Access, but allocations are not guaranteed, and the issuer and its banks decide the retail share.
What is Robinhood’s stock price today?
Robinhood closed at $84.58 on Wednesday 11 November, up 4.0 percent, according to MarketBeat. Thursday’s regular session opens at 14:30 GMT.
Why is Robinhood stock down from its high?
The stock is about 39 percent below its $139.75 52-week high. Q3 revenue rose 12 percent but roughly matched forecasts, crypto revenue fell 55 percent and funded customer growth slightly missed estimates. Most analysts cut their targets after the results.
What is the Robinhood stock price target?
Post-results targets range from $100 (Wells Fargo) to $135 (Rosenblatt). MarketBeat lists a consensus of $129.70. Price targets are not guarantees.
How much of the Anthropic IPO goes to retail investors?
Up to 20 percent of the Class A shares, depending on demand, according to the amended S-1. At the $74 midpoint, that would be roughly $12 billion of stock.
What are the key Robinhood levels?
Wednesday’s $82.07 low and Tuesday’s $81.33 close below, and Wednesday’s $86.15 high above. The 52-week range is $63.52 to $139.75.
Sources: Anthropic amended S-1, 10 November; CNBC, 10 November (price range, share count, reported dates); Yahoo Finance (CFO Shiv Verma comments); MarketBeat, 11 November (close, range, 52-week range, consensus target); Robinhood Q3 2026 results, as reported by StockTitan, Tickeron, MarketScreener and TradingKey; Stocktwits, MarketBeat and Blockchain.News (target changes, late October).
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Stock prices are volatile. Do your own research and consult a licensed financial adviser before making investment decisions.