In the past, investors using the Robinhood Markets platform often were known to pick high-risk stocks. Wins could be big -- but so could losses -- and either of these could happen over a short period of time. That means it was risky to follow in the footsteps of Robinhood investors.

But times have changed -- at least somewhat. Today, Robinhood investors still favor plenty of risky names but are also picking up many strong companies that have proven themselves when it comes to revenue and profit. In fact, some of these stocks have tumbled quite a bit so far this year -- offering an entry point for us right now. Here are three exciting players Robinhood investors love.

1. Tesla

Electric-vehicle leader Tesla (TSLA 5.34%) recently completed a stock split. That, in itself, didn't boost the stock, but the good news is the operation makes it easier for a broader range of investors to invest in this innovative company.

Here's why you may want to get in on Tesla: The company has managed to deliver impressive earnings despite supply chain challenges and coronavirus interruptions. In the second quarter, for example, the vehicle maker reported an industry-high operating margin of 14.6% and net income on a GAAP basis of $2.3 billion. Tesla also reported its top production month ever during the period.

And Tesla is just getting started. It aims to reach 50% average annual growth in vehicle deliveries over time. Importantly, Tesla also has a comfortable cash position. It reported $18.3 billion in cash and cash equivalents in the quarter, and that's thanks to free cash flow of $621 million.

Tesla is trading at 64 times forward earnings estimates. That's down from more than 90 earlier this year. This looks pretty reasonable considering Tesla's performance so far in a difficult environment and the company's future possibilities.

2. Target

Target (TGT 2.49%) has proven its ability to grow revenue and profit. For instance, it has reported 21 straight quarters of comparable-sales growth. And it has a strong track record of quickly adapting to the needs of customers. During the earlier stages of the pandemic, it ramped up its contactless services. These days, it's opening new stores designed to match the needs of local communities.

The company reached a rough spot in recent times, though. The headwinds? Higher inflation and supply chain issues.

Target also struggled with excess inventory in areas that aren't as popular with customers as they used to be. The company chose to mark down prices and clear that inventory. This weighed on second-quarter earnings.

But the good news is Target says most of that financial pain is now in the past. The company reported an operating margin rate of only 1.2% in the second quarter. But for the full year 2022, it expects that figure to reach about 6%. That's due to improving trends and the company's focus on categories driving growth today -- such as food and beverage, beauty, and essential products.

Target is trading slightly lower in relation to forward earnings estimates than rival Walmart. And it's cheaper than it was earlier this year by that measure. It looks like Target is emerging from its tough times, so now could be the perfect time to get in on this story.

TGT PE Ratio (Forward) Chart

TGT PE Ratio (Forward) data by YCharts.

3. Moderna

Moderna (MRNA 3.49%) has reported billions of dollars in revenue and profit since it started selling its coronavirus vaccine. And in the early days of the pandemic, the stock soared. These days, though, investors worry about vaccine revenue in a post-pandemic world. As a result, Moderna shares have dropped 45% this year.

But there's reason to be optimistic about the vaccine maker. First, Moderna may continue to generate significant vaccine revenue well into the future. Experts say at least the most fragile should go for annual booster shots. Moderna just won authorization in the U.S. for its first strain-specific booster and has said it's ready to update its booster as time goes by with the dominant strain of the moment.

Beyond coronavirus vaccines, Moderna has plenty to offer, including a couple of potential blockbusters that are in late-stage clinical trials. I'm talking about vaccine candidates for cytomegalovirus (CMV) and respiratory syncytial virus (RSV). Approved vaccines currently don't exist for these common viruses, and Moderna has 46 programs in development across therapeutic areas.

Today, Moderna shares trade for about five times forward earnings estimates. Even if coronavirus vaccine sales decline, this is a reasonable price for a company with so many potentially promising products that could equal major revenue down the road.