Bernstein SocGen Group, a global equity and institutional brokerage firm, has raised its price target on Robinhood (HOOD) stock from $130 to $160. The firm believes Robinhood’s expansion into tokenized stocks and blockchain products could unlock billions in new revenue.
Bernstein Sees Robinhood Leading the Next Trading Boom
According to Bernstein analyst Gautam Chhugani, Robinhood is in a strong position to benefit from a $70 billion market that includes prediction markets, perpetual futures, tokenized stocks, and blockchain products.
“We expect Robinhood to expand into prediction markets, perpetual futures, and tokenized equities, which are key drivers behind our revised price target.”
Bernstein says Robinhood’s biggest strength is its 27 million funded accounts and 14 million monthly active users. This helps the company launch new products quickly without spending a lot to bring in new customers.
Robinhood (HOOD) is now trading near $100, so Bernstein’s new $160 price target suggests the stock could rise by more than 60%. The firm also expects these new businesses to grow from 3% of Robinhood’s revenue in 2025 to 18% in 2027 and 23% in 2028.
Prediction Markets Could Soon Earn More Than Crypto
Bernstein says the biggest reason for its higher price target is the fast growth of prediction markets. The firm expects revenue from prediction markets to grow 64% every year between 2026 and 2028, reaching nearly $1.7 billion.
It also believes that by the second quarter of 2026, prediction markets could earn more money than Robinhood’s crypto business. Bernstein expects about $150 million in prediction market revenue during the quarter, while crypto revenue could fall because trading activity has slowed.
Robinhood’s Rothera Exchange, launched in May, is already growing quickly. Bernstein says it has processed more than 3.5 billion contracts, with FIFA World Cup markets making up about 93% of the activity.
Rothera now handles around 16% of Robinhood’s prediction market volume, while the rest still goes through its partner Kalshi.
Robinhood’s Crypto Business Slows While Blockchain Expands
On the flip side, Bernstein has lowered its 2026 crypto revenue forecast by 49% because crypto trading activity has slowed this year.
As a result, the firm cut its 2026 revenue estimate to $5.3 billion, while its earnings per share (EPS) forecast dropped from $2.65 to $2.05. Still, Bernstein says this slowdown is only temporary.
At the same time, Robinhood is growing its blockchain business. Its Robinhood Chain, built on Arbitrum, has already crossed $400 million in total value locked (TVL). The network is also on track to process nearly $200 billion in yearly decentralized exchange volume, while generating about $50 million in yearly chain fees.
Because of these new businesses, Bernstein now expects Robinhood’s 2028 EPS to reach $4.56, about 39% higher than Wall Street estimates, supporting its new $160 price target.
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