TLDR
- Robinhood stock surged 16.6% Thursday, closing at $124.72, its highest close since December 10.
- Morgan Stanley upgraded HOOD to Overweight and raised its price target to $150; Scotiabank initiated coverage at Sector Outperform with a $136 target.
- Piper Sandler raised its price target to $145, pointing to strong prediction market volumes heading into football season.
- Deutsche Bank raised its HOOD target to $136 from $115, citing the Robinhood Chain as a key growth driver.
- Robinhood Chain’s TVL jumped 27% in seven days to $840 million, with the network pulling in more fees than Ethereum, Solana, and several other major chains over the past 24 hours.
Robinhood stock had one of its best days in nearly a year on Thursday, jumping 16.6% to close at $124.72. That is the stock’s highest close since December 10 and came on the back of a flurry of bullish analyst calls.
Morgan Stanley analyst Michael Cyprys kicked things off on September 1, upgrading HOOD to Overweight from Equal-weight and lifting his price target to $150 from $124. His argument is straightforward: Robinhood is turning product expansion into better customer economics.
“Assets per customer are up 23% year over year,” Cyprys wrote, adding that the growing product lineup gives customers more reasons to keep assets at Robinhood rather than moving them elsewhere as their wealth grows.
Scotiabank analyst Lance Jessurun also initiated coverage on September 1, rating HOOD Sector Outperform with a $136 target. He argues the market is still pricing Robinhood like a simple retail broker, but the company now earns across five distinct revenue pools, four of which are less cyclical than pure trading revenue.
Prediction Markets Seen as a Big Catalyst
Piper Sandler analyst Patrick Moley raised his price target to $145 from $135, keeping his Overweight rating. He flagged prediction market volumes as a standout opportunity heading into the NFL and college football seasons.
Moley’s base case projects that Robinhood customers trade roughly 29.7 billion event contracts from September through December 2026, generating around $320 million in prediction market revenue for the period.
Even August, historically one of the slowest months for sports, showed strong volumes, partly boosted by the World Cup. Football season is expected to be a much bigger driver.
Deutsche Bank also got in on the action, raising its HOOD price target to $136 from $115. The bank specifically called out the Robinhood Chain, the company’s layer-2 blockchain network, as a meaningful source of upside.
Robinhood Chain Gaining Ground Fast
The Robinhood Chain launched less than two months ago and is already posting numbers that are hard to ignore. Total Value Locked on the network jumped nearly 27% over the past seven days to $840 million, according to DeFiLlama data.
Over the past 24 hours, the network pulled in $4.59 million in fees, more than Ethereum, Solana, BNB, Avalanche, and several major layer-2 networks including Base and Arbitrum.
Market commentator The Milk Road noted that Robinhood Chain’s annualized seven-day revenue makes it the fourth-largest business line across Robinhood’s 14 revenue streams.
Beyond the blockchain side, Robinhood also reported that customers have deposited about $150 million into newly available trust accounts, with an average account size of more than $500,000.
Robinhood Gold, the company’s subscription service, hit a record 4.8 million subscribers in Q2.
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