Robinhood Markets is generating signals across three data streams at once. Goldman Sachs raised its price target to $105 on Thursday. Options positioning has reached the most call-skewed reading in a year. Short sellers keep adding, even as the stock sits 15% higher than a month ago.
Goldman Sachs analyst Will Nance lifted his target from $95 to $105 on June 4, maintaining a Buy. That follows Mizuho raising to $115 on May 29. Keybanc held its Overweight and $100 target on June 1. The mean analyst target now sits at $99.40 — 12.5% above the June 4 close of $88.33. Citizens holds the most bullish view at $155. The post-earnings analyst reaction has been broadly constructive. Targets cut in late April — including Barclays to $82 and Needham to $85 — now look well below current price levels.
The put/call ratio printed 0.60 on June 4. That is 2.7 standard deviations below the 20-day mean of 0.67. It is also the most call-dominated reading in a full year — the 52-week low for the ratio is 0.56, and the current level is approaching that floor. Call dominance has been persistent, not a one-day spike. The ratio has trended lower every session since May 27. Options traders are leaning heavily bullish into the next earnings date, currently set for July 29.
Short interest has risen 16% over the past week to 4.88% of free float — the same directional trend flagged in the June 3 notes, now confirmed again on fresh data. Short sellers have not covered despite a 15% one-month rally. The cost to borrow doubled over the past week to 0.52%, up from 0.26%. That is a notable move in percentage terms. In absolute terms, it remains very cheap to borrow. Availability stands at 1,862% of short interest — meaning shares available to borrow still vastly outnumber those already borrowed. The borrow market is tightening at the margin, not flashing distress.
Three streams are active simultaneously, but they point in different directions. Options traders are the most bullish they have been all year. Analysts are raising targets. Short sellers are adding positions despite the rally — a classic bet on mean reversion or a hedge against volatility into Q2 results. The insider buy from Meyer Malka and Ribbit Capital, flagged in the June 3 article, remains the most concrete expression of conviction — $15 million at $83.45 on June 3, after the stock had already moved significantly. That trade is now slightly underwater.
What to watch: Whether the PCR drifts back toward its 20-day mean as the July 29 earnings date approaches, and whether short sellers begin covering or continue to build into a second straight post-earnings rally attempt.
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