Bernstein raised its price target for Robinhood Markets (HOOD) to $160 from $130. The firm maintained its Outperform rating. Shares rose in pre-market trading on July 20 following the upgrade.
Analyst Gautam Chhugani identified expansion into prediction markets, perpetual futures, and tokenized equities as key growth drivers. Bernstein projects these new offerings will account for 23% of total revenue by 2028. Prediction markets alone could become a $1.7 billion business for Robinhood by 2028. Revenue from prediction markets may surpass crypto trading revenue as early as the second quarter.