Bernstein Keeps Robinhood Price Target at $160, Sees $160 Million in Robinhood Chain Revenue Next Year
Summary
- Bernstein said it maintained its Outperform rating on Robinhood and its $160 price target.
- It said Robinhood’s layer-2 blockchain, Robinhood Chain, has recorded $1.5 billion in TVL and more than $50 billion in cumulative DEX trading volume.
- Bernstein projects $160 million in annual fee revenue for Robinhood Chain next year and said Robinhood keeps about 90% of those fees.
Forecast Trend Report by Period
Bernstein maintained its $160 price target on U.S. stock-trading platform Robinhood.
The Block reported on September 9 that Bernstein, in a client note on September 8, reiterated its Outperform rating on Robinhood and kept its price target at $160. Robinhood shares closed at $117.34 on the same day, down 3.91% from the previous session.
Bernstein highlighted Robinhood Chain, the company’s proprietary layer-2 blockchain launched in July. According to the firm, Robinhood Chain has reached $1.5 billion in total value locked and more than $50 billion in cumulative decentralized exchange trading volume.
Bernstein projects Robinhood Chain will generate $160 million in annual fee revenue next year. It added that the blockchain is now contributing directly to Robinhood’s earnings.
Daily transaction fees on Robinhood Chain are estimated at about $2 million to $4 million. Over the past 15 days, the network generated about $33 million in fees, exceeding Solana’s $11 million and BNB Chain’s $9 million.
Robinhood keeps about 90% of the fees generated on its blockchain, while the remaining roughly 10% is distributed to Arbitrum, which provided the technical foundation. Less than 1% goes to Ethereum data-processing costs.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul