Bernstein Keeps $160 Target on Robinhood, Citing Tokenization and Prediction Market Upside
Summary
- Bernstein said Robinhood’s returns could exceed market expectations and maintained its $160 price target.
- The firm said Robinhood’s digital-asset business is drawing growth from tokenization infrastructure, Robinhood Chain, tokenized stocks and Robinhood One.
- Bernstein said Robinhood’s Lotera prediction market is the third-largest in the U.S., with more than 3.5 billion transactions and $17 million in second-quarter revenue.
Forecast Trend Report by Period
Bernstein maintained its $160 price target on Robinhood Markets Inc., saying the U.S. online brokerage could deliver returns above market expectations, according to a July 31 report cited by The Block.
Analyst Gautam Chhugani wrote that Robinhood’s digital-asset business is evolving from a simple trading platform into tokenization infrastructure. He identified Robinhood Chain, tokenized stocks and Robinhood One as key growth drivers.
Robinhood Chain has topped $12 billion in decentralized-exchange trading volume and 150 million cumulative transactions since launching earlier this month.
Bernstein also highlighted prediction markets as a strength for Robinhood. The company launched its in-house prediction-market exchange, Lotera, in June, and the platform has recorded more than 3.5 billion transactions so far.
Lotera generated $17 million in second-quarter revenue, Bernstein said, calling it the third-largest prediction market in the U.S.
Robinhood closed at $86.80 on Nasdaq in the previous session, down 3.61% from a day earlier. The stock rose 1.81% in after-hours trading.
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