StoneX: Robinhood Chain Projected to Generate $980 Million in Revenue by 2029, Sets $170 Price Target for HOOD

Odaily News, StoneX Financial has initiated coverage on Robinhood with a "Buy" rating and a $170 price target, implying approximately 45% upside from Tuesday's closing price of $117.34.

StoneX noted that Robinhood Chain's single-day fees reached approximately $4.59 million as of September 3, and it projects the platform could generate $980 million in revenue by fiscal year 2029, with a profit margin of 85%. Additionally, Robinhood's prediction market traded 13.6 billion event contracts in the second quarter, generating approximately $156 million in revenue, representing a 50% quarter-over-quarter increase. (The Block)