HOOD Stock Jumps as Bernstein Raises Price Target for Robinhood
Highlights
- Bernstein reiterates outperform rating on Robinhood Markets, joining other Wall Street giants.
- HOOD stock price target is raised from $130 to $160 amid prediction markets and perpetual futures growth.
- HOOD stock surged 2.29% to $102.25 in premarket trading today.
Bernstein joined other Wall Street giants and turned bullish on Robinhood Markets’ growth in prediction markets, perpetual futures, and tokenized equities offerings. HOOD stock price gained more than 2% in premarket trading on Monday.
Bernstein Raises Robinhood Markets Price Target to $160
Bernstein reiterated its outperform rating on Robinhood Markets on July 20. The firm increased the 12-month price target from $130 to $160 for HOOD stock.
Analyst Gautam Chhugani highlights the platform’s aggressive push into new high-growth areas, including prediction markets, perpetual futures, and tokenized equities. He argues it would drive 23% of total revenue by 2028, justifying a higher price target.
Rothera exchange joint venture and Robinhood Chain could contribute significantly to total revenue in 2027 and 2028. The new $160 target is based on a calendar year 2028 EPS estimate of $4.56, which is 39% above consensus estimates.
As CoinGape reported earlier, Wall Street giant Morgan Stanley also raised its price target from $95 to $124 for HOOD stock. Barclays lifted HOOD stock’s 12-month price target to $122 amid strong ongoing momentum for its platform and trading volumes.
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HOOD Stock Gains Today
HOOD stock surged 2.29% in premarket trading to $102.25, following the buy recommendation by Bernstein. The stock closed at $99.96 last week, down almost 10% in a week.
Before the recent drop amid broader stock market weakness due to selloffs in AI and chip shares, HOOD stock rallied almost 40% over the past month.
Bernstein analyst expects prediction markets to overtake crypto as a Robinhood revenue line as soon as Q2, with Rothera and Robinhood Chain driving the next-gen trading bet.
Robinhood Chain overtook Hyperliquid in 24-hour decentralized exchange (DEX) volume, with more than $606 million. Robinhood Chain has recorded massive demand amid RWA, DeFi, and CASHCAT buzz.
Meanwhile, Bitcoin is trading at $64,658, eyeing a retest of the $65K level after a 24-hour decline. Trading volume has increased by 56% as US Secretary of State Marco Rubio claimed they are still open to diplomatic resolution with Iran.
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