Key Stats for Robinhood Stock
- Price change for Robinhood stock in the last 1 month: 22%
- $HOOD Stock Price as of Sep. 9: $115
- 52-Week High: $154
- $HOOD Stock Price Target: $129
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What Happened?
Robinhood (HOOD) stock dipped nearly 2% on Tuesday, but that didn’t stop StoneX Financial from initiating coverage with a bullish Buy rating and a $170 price target.
That’s roughly 45% upside from where Robinhood stock closed that day. The call comes from Mark Palmer, managing director and senior research analyst at StoneX.
Palmer’s thesis is simple: Robinhood is no longer just a trading app. The company posted Q2 net revenue of $1.31 billion, up 32% year over year, with adjusted EBITDA jumping 35% to $741 million. Earnings per share rose 48% to $0.62.
Interestingly, crypto revenue actually fell 38% and now makes up just 8% of net revenue, down from 16% a year ago.
StoneX doesn’t see that as bad news. Instead, it views the shrinking crypto mix as proof that Robinhood stock is becoming less dependent on volatile digital asset trading and more diversified.
The real story, according to the note, is Robinhood Chain, the company’s Ethereum Layer 2 network that launched on mainnet on July 1.
Gas-fee collections on the chain have reportedly outpaced those of every other Ethereum Layer 2 network combined.
Daily fees hit about $4.59 million by September 3, putting annualized revenue near $39 million as of August 29.
StoneX projects this business alone could generate $980 million in revenue by fiscal 2029, at an eye-popping 85% margin.
Prediction markets are the report’s second growth engine. Robinhood processed 13.6 billion event contracts in the second quarter, including more than 5 billion during the World Cup.
That activity brought in roughly $156 million in revenue, up 50% from the prior quarter.
Adding to the momentum, Robinhood also announced equity stakes and commercial deals with Crypto.com and OG.com the same day its shares slipped, including plans to route some event-contract volume to OG.com.
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What the Market Is Telling Us About Robinhood Stock
StoneX’s aggressive $170 target suggests Wall Street is starting to think about Robinhood stock differently, less like a traditional discount broker and more like a platform building high-margin infrastructure.
That’s a meaningful shift in how analysts are framing the growth story. Still, this is one initiation, not a broad consensus.
The bullish case depends heavily on Robinhood Chain and prediction markets scaling as fast as StoneX expects, and forward estimates could easily shift with regulation, crypto conditions, and execution risk.
For now, though, the note adds to a growing chorus of analysts betting that Robinhood stock’s next leg of growth comes from software-like economics rather than commissions or crypto trading alone.
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!
