StoneX Initiates Robinhood at Buy, Sees 45% Upside on Layer 2 and Prediction Markets
HOOD sits 85% above its 52-week low of $63.515.
Summary
StoneX initiated coverage on Robinhood with a Buy rating and $170 price target, implying 45% upside. The analyst highlights accelerating operating metrics, with Robinhood Chain's daily fees reaching $4.59M and annualized revenue near $39M, and models the chain generating $980M by FY2029 at 85% margin. Prediction markets are a key growth pillar, with Q2 revenue of $156M, up 50% QoQ, and a new partnership with Crypto.com and OG.com to expand offerings. This follows strong Q2 results and the recent launch of Robinhood Chain, reinforcing the company's expansion beyond retail trading.
At the time of this announcement, HOOD was trading at $117.80 on NASDAQ in the Finance sector, with a market capitalization of approximately $105.5B. The 52-week trading range was $63.52 to $153.86. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: The Block.