On June 9, Robinhood Securities announced that CEO Vlad Tenev has been approved as an IPO underwriting firm, marking the formal expansion of its business from retail brokerage into capital markets underwriting, and confirming its selection as one of this week’s SpaceX IPO underwriting firms. In May, Robinhood’s platform total assets reached $377 billion, driving a 29% gain in HOOD stock in May.
Full May operating data: Robinhood’s seven metrics released on June 9
Based on Robinhood’s June 9, 2026 monthly operating report (cited by Quiver Quantitative):
Platform total assets: $377 billion (up 9% month-over-month, up 48% year-over-year)
Stock listed trading volume: $315 billion (up 27% month-over-month, up 75% year-over-year)
Options trading volume: 231 million contracts (up 3% quarter-over-quarter, up 29% year-over-year)
Net deposits: $5.6 billion
Margin balance: $19.5 billion (up 8% month-over-month, up 117% year-over-year)
New paid users: about 110,000
Total paid users: 27.7 million (up 1.76 million from the same period last year)
SpaceX IPO underwriting: Robinhood selected; IPO Access has been operating since 2021
Robinhood confirmed it has been selected as one of five underwriting firms for this week’s SpaceX IPO. In an X post on June 9, Tenev said: “Since the IPO Access program was launched in 2021, retail investors have moved from being overlooked in the overlooked parts of IPO planning to becoming a key component of how companies plan their IPOs.”
The IPO Access program allows retail investors to place orders for stocks before an IPO. It has been operating on the Robinhood platform since 2021. As an underwriting firm, Robinhood will guide companies through the IPO process and serve as an intermediary between issuers and investors, which differs from the existing IPO Access retail ordering channels.
MarketBeat record: Consensus target prices from 25 analysts
According to MarketBeat records as of June 10, 2026, the average target price given by 25 analysts tracking HOOD is $106.54, implying upside of about 29% compared with the current share price. The target price range has a low of $48 and a high of $155.
FAQs
How is Robinhood’s approval as an IPO underwriter different from its existing IPO Access business?
IPO Access allows Robinhood’s retail users to place orders for stocks of public companies before an IPO. Robinhood plays the role of an allocation channel in this process. Being approved as an IPO underwriter means Robinhood can directly guide the company through the entire IPO process and act as a formal intermediary between the issuer and investors, enabling it to collect underwriting fees—an operational upgrade in its business role.
What does Robinhood’s May margin balance growth of 117% year-over-year mean?
With a margin balance of $19.5 billion (up 117% year-over-year), it reflects a major increase in the scale of Robinhood platform customers using margin loans to make investments. The margin business is one of Robinhood’s major sources of interest income. The data above comes from Robinhood’s June 9, 2026 monthly operating report, cited by Quiver Quantitative.
Why is the target price range so wide among the 25 analysts?
Based on MarketBeat records, the 25 analysts’ target prices for HOOD range from $48 to $155, reflecting differences in the market’s assessment of the pace of Robinhood’s business expansion and its sustainability. The mean is $106.54. MarketBeat is the source of the analysts’ rating data cited in this article.
