Robinhood Stock Sees 85% Upside as Bernstein Keeps $160 Target

Robinhood Stock remains in focus after Bernstein kept an Outperform rating and a $160 price target, citing tokenization and prediction markets as key growth drivers.

Bernstein Keeps Bullish View on Robinhood

Bernstein analysts said Robinhood’s crypto business is moving beyond trading fees and into infrastructure. The firm pointed to Robinhood Chain, tokenized stocks, Bitstamp, and Robinhood Earn as new growth areas.

Robinhood Stock closed at $89.84 on Wednesday, which supported Bernstein’s earlier upside estimate. The stock later declined 3.6% to $86.60 on Thursday, raising the implied upside to about 85% against the unchanged $160 target.

The brokerage maintained its rating even as broader crypto trading volumes weakened. Bernstein cut its 2026 crypto trading revenue estimate by 49%, reflecting softer market activity across digital assets.

Robinhood reported total net revenue of $1.31 billion in the second quarter, up 32% from $989 million a year earlier. The result came above analyst expectations of about $1.26 billion.

Tokenization and Robinhood Chain Drive Expansion

Bernstein said Robinhood Chain has generated more than $12 billion in decentralized exchange volume since launch. The network has also processed more than 150 million transactions.

Robinhood Earn has attracted more than $200 million in deposits. Stock Tokens are also available in more than 120 countries through Robinhood Wallet, expanding the company’s tokenization push outside the United States.

Robinhood Stock has remained volatile despite growth in these newer business lines. The shares traded at $86.60 after opening at $90.91 and falling to a low of $86.21.

Trading volume reached about $29.69 million, showing strong market activity during the session. The decline came even as analysts pointed to tokenized assets and new crypto products as longer-term growth areas.

Goldman Sachs also adjusted its Robinhood view after the second-quarter report. The bank kept a Buy rating but lowered its 12-month price target to $118 from $137, citing slower upside momentum.

Prediction Markets Overtake Crypto Trading Revenue

Robinhood’s Rothera exchange went live in June and has processed more than 3.5 billion contracts. The exchange handled 2.1 billion contracts in the second quarter and generated $17 million in revenue.

Bernstein said Rothera is now the third-largest exchange in the United States. Event-contract revenue reached $156 million in the second quarter, exceeding Robinhood’s crypto trading revenue of $100 million.

The analysts said, “Management expects a greater share of prediction market flow to migrate to Rothera over time, while continuing to distribute event contracts from third-party exchanges and retaining the longer-term optionality to offer Rothera as a B2B platform for other FCMs.”

Robinhood Stock could remain tied to the growth of prediction markets, tokenized stocks, and crypto infrastructure. Regulatory changes remain a risk, especially around payment for order flow and digital asset trading.

The company has also opened its Agentic Trading platform to its full customer base. The feature allows users to connect AI agents through Robinhood’s MCP server and assign specific investing tasks.

If you want to trade fractional shares on-chain, see our guide to the best exchanges for tokenized stocks.