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Analysts Lift Robinhood Targets as Crypto and Stock-Token Activity Expand

BullishMedium impact
HOOD$109.22 0.18%

Wall Street analysts have increased their outlook for Robinhood Markets, Inc. (HOOD), pointing to new growth opportunities in cryptocurrency and prediction markets. Bank of America raised its price target on the stock to $156, projecting third-quarter earnings per share of $0.64 on approximately $1.4 billion in revenue. Evercore also initiated coverage on the company with an Outperform rating and a $130 price target. Shares rose 0.18% today to $109.20.

The upbeat analyst views coincide with expanding activity across the platform's digital asset ecosystem. The firm runs a stock-token chain on the Arbitrum Layer 2 network, incorporating Uniswap for trading and Morpho for lending. Deposits on the chain have reached about $1.1 billion, largely driven by crypto-native users, while meme-token paired stock trading has reached $518 million. Additionally, the business ran a targeted account transfer promotion from October 7 to October 16, offering a 3% match for eligible Webull transfers held for approximately five years.

Looking ahead, market participants are anticipating the official release of third-quarter results to see if profitability meets expectations. Investors will also be tracking developer adoption on Robinhood Chain, as the company plans to release more details and timelines regarding developer grants and technical support.

Key points

  • Bank of America raised its target price on Robinhood Markets, Inc. (HOOD) to $156, forecasting Q3 earnings of $0.64 per share on $1.4 billion in revenue.
  • Evercore initiated coverage on Robinhood with an Outperform rating and a $130 target price, citing prediction markets and crypto offerings.
  • Robinhood's Arbitrum Layer 2 stock-token chain has accumulated roughly $1.1 billion in deposits, with meme-token paired stock trading reaching $518 million.
  • The company plans to boost developer resources on Robinhood Chain through grants and support, with further details and timelines to be announced.
  • A promotion running October 7 to October 16 offers a 3% match on eligible Webull account transfers kept for about five years.

Written by our AI from expert market sources across the web. It can contain mistakes: check the facts before acting on them. Write-ups powered by the free AI API at FreeTheAI.org

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Questions and answers

What are analysts predicting for Robinhood Q3 earnings?

Analysts expect Robinhood Markets to report third-quarter earnings per share of approximately $0.64 on revenue near $1.4 billion. Bank of America raised its price target to $156, while Evercore initiated coverage at Outperform with a $130 target.

What is Robinhood Chain and how much has been deposited?

Robinhood Chain is a stock-token chain running on Arbitrum Layer 2 that supports Uniswap trading and Morpho lending. It has attracted roughly $1.1 billion in deposits, driven mainly by crypto-native users.

What promotion did Robinhood offer for Webull transfers?

Robinhood ran a promotion from October 7 to October 16 offering a 3% fixed match on eligible Webull account transfers. The bonus is paid upon receipt, and assets must remain with Robinhood for about five years to avoid a chargeback.