Robinhood Markets (HOOD) shares rose as much as 6% on Thursday.
The rally followed the U.S. Securities and Exchange Commission’s announcement of new guidance for tokenized securities.
The SEC issued a five-year Innovation Exemption plan to allow specific venues to trade digital versions of stocks.
Goldman Sachs and Deutsche Bank raised their price targets for the company.
Analysts cited strong user growth and rising revenue from on-chain and prediction-market ventures.
Robinhood’s chain fees are currently tracking at an annual run rate exceeding $100 million.
The company also reported strong performance metrics for August.