Robinhood’s stock price is projected to jump another 12%.
That’s according to analysts at wealth management firm Bernstein, who say the stock’s price is going to $160 from $142 in an investor note shared with DL News.
Gautam Chhugani and three other Bernstein analysts said that the firm’s crypto engine is firing on all cylinders.
“Robinhood is leaning hard into crypto markets, not simply from trading but building a completely new business in equity and real-world asset tokenisation,” they wrote in a Thursday note to investors.
The forecast comes a day after Robinhood’s inbound Chief Financial Officer Shiv Verma said that the firm is “actively looking” at holding Bitcoin on the balance sheet, a move that would mark the fintech’s most significant pivot yet into crypto.
Verma made the comments during Robinhood’s third-quarter earnings call.
In 2025, crypto treasury companies have boomed, with more than 200 public companies holding Bitcoin or Ethereum on their balance sheets compared to just a handful in years prior. October alone saw 26 new firms become Bitcoin treasuries.
But the trend has since cooled off as crypto markets reel from the major deleveraging event on October 10.
To be sure, Robinhood’s stock price sank nearly 11% to $127 per share after the positive earnings call, amid a wider selloff of US tech equities.
Ambitions
Robinhood says it has nearly 27 million active users, up 2.5 million since last year, with assets climbing 120% to over $300 billion.
Revenue from crypto-linked products surged 300% to $268 million, driving transaction-based revenue up nearly 130% to $730 million. The firm reported $1.27 billion in overall revenue.
Bernstein analysts said Robinhood’s latest quarter proved it could repeatedly “add new $100 million revenue businesses every year,” setting the stage for the next phase of growth from new and more global business lines.
“Ten years from now, the aim is to have over half of our revenue be outside the US,” Robinhood CEO Vladimir Tenev said during the call. “Right now we’re majority retail. We think we can get to over half being non-retail, institutional.”
Tenev added that prediction markets are “on fire” as Robinhood saw $25 million in revenue in October alone, and continues to make up the majority of Kalshi’s volume.
Bernstein analysts said that “Robinhood continues to be the anchor partner for Kalshi with growing traction, forming 57% of its volumes in October.”
Tenev has also been a big backer of tokenisation of stock trading, which he has described as “like a freight train” that will “eat the entire financial system.”
Crypto market movers
- Bitcoin is down 3% over the past 24 hours, trading at $99,932.
- Ethereum is down 4.9% over the past 24 hours, trading at $3,231.
What we’re reading
- Ripple partners with Mastercard to bring RLUSD stablecoin to credit card transactions — DL News
- Bittrex bankruptcy filings reveal $500m of suspicious transactions — DL News
- Franklin Templeton Rolls Out First Tokenized Fund in Hong Kong — Unchained
- Why the End of QT Changes Everything & What It Means for Bitcoin & Altcoins w/ Andy — Milk Road
- Banks urge OCC to deny Coinbase’s national trust charter application — DL News
Lance Datskoluo is DL News’ Europe-based markets correspondent. Got a tip? lance@dlnews.com
