Robinhood fueled a day-trading boom during the pandemic, but CEO Vlad Tenev said on a podcast that many traders eventually adopt a more passive style.

Alex Markgraff at KeyBanc Capital Markets was similarly bullish. KeyBanc reiterated an Overweight rating for Robinhood and nearly doubled its price target to $110 from $60, reflecting both the announcements and data about the performance of existing products during the current quarter.

The trading platform announced it would give some users €5 “stock tokens” that track the private-market values of OpenAI and SpaceX.