TLDR
- Robinhood reported $4.5B in total net revenue for 2025, up 52% year over year
- Q1 2026 revenue rose 15% to $1.07B, with Gold subscribers hitting a record 4.3 million
- Analysts have an average 12-month price target of ~$112, just above the current ~$108 price
- A base case 2031 price target sits around $148; bull case reaches ~$293
- A probability-weighted 2031 model points to roughly $156, implying ~44% upside from current levels
Robinhood (HOOD) stock trades around $108, and Wall Street is asking how much higher it can go over the next five years.
The company posted $4.5 billion in total net revenue for 2025, a 52% jump year over year. Net income came in at $1.9 billion, and adjusted EBITDA rose 76% to $2.5 billion.
Q1 2026 kept the momentum going. Revenue hit $1.07 billion, up 15% year over year. Diluted EPS came in at $0.38, up 3%. Robinhood Gold subscribers grew 36% to a record 4.3 million.
May operating data added more fuel. Funded customers climbed to 27.7 million, and total platform assets rose to $377 billion — up 48% from the prior year. Net deposits in Q1 reached $17.7 billion.
The platform has expanded well beyond retail stock trading. Robinhood now operates across options, crypto, retirement accounts, banking, credit cards, prediction markets, and private market access.
The Bull, Base, and Bear Cases
Three scenarios frame where HOOD could land by 2031.
In the bear case, revenue reaches around $6.5 billion, but margin pressure and weaker trading volumes limit earnings. Using a 22x earnings multiple, the stock could fall to around $35.
The base case puts annual revenue at roughly $10 billion by 2031. If net margins settle near 35% and EPS reaches $3.90, a 38x multiple supports a price near $148.
The bull case assumes Robinhood builds a much larger financial platform. If revenue hits $14 billion and EPS climbs to $6.50, a 45x multiple puts the stock near $293.
A probability-weighted model across all three scenarios points to a 2031 price target of around $156 — roughly 44% upside from current levels, or about 7.5% annualized.
What Analysts Are Saying
Wall Street likes Robinhood but isn’t pounding the table right now.
According to MarketBeat, HOOD carries 18 Buy ratings, 5 Holds, and zero Sells. The consensus is Moderate Buy. But the average 12-month price target is only around $112 — barely above where the stock sits today.
That gap tells you analysts believe in the long-term story but see limited near-term upside after the stock’s sharp run.
The risks are real. Valuation is stretched. Trading revenue is cyclical. Crypto is volatile. Regulatory pressure remains a factor. And larger financial firms are competitive threats.
That said, Robinhood holds some clear advantages — a large and young customer base, growing subscription revenue through Gold, rising platform assets, and an expanding product lineup.
The realistic 2031 range, based on current modeling, sits between $150 and $160. The bull case at $293 requires Robinhood to fully execute on becoming a financial super app for the next generation.
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