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      StoneX Initiates Coverage of Robinhood with Buy Rating and $170 Target Price

      StoneX analyst Mark Palmer has initiated coverage of Robinhood Markets, Inc. with a buy rating and a target price of $170, suggesting a potential upside of approximately 45% from the company's recent closing price of $117.34. Palmer highlighted Robinhood's strategic shift from primarily retail trading services to expanding its operations into exchanges and blockchain infrastructure, which are expected to yield higher software profit margins.

      On July 1, Robinhood launched its mainnet for Robinhood Chain, which has reportedly generated more Gas fee revenue in a single day than all other Ethereum Layer 2 solutions combined. As of September 3, the chain's daily fee revenue reached about $4.59 million, translating to an annualized revenue of nearly $39 million as of August 29. StoneX forecasts that Robinhood Chain could achieve $980 million in revenue by fiscal year 2029, with an impressive profit margin of 85%.

      In the prediction market, Robinhood traded 13.6 billion event contracts in the second quarter, with over 5 billion contracts traded during the World Cup period, resulting in approximately $156 million in revenue—a 50% increase compared to the previous quarter. Additionally, Robinhood announced new partnerships with Crypto.com and OG.com, which include investments in both firms and the routing of some event contracts to OG.com. Bernstein analysts have also maintained an outperform rating for Robinhood, setting a target price of $160.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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