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StoneX Initiates Coverage on Robinhood with Buy Rating and $170 Price Target, Sees $980M Revenue Potential from Robinhood Chain by 2029

OdailyOdaily

Odaily News: StoneX Financial 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 daily fees reached approximately $4.59 million as of Sept. 3, and it expects the chain to generate $980 million in revenue by fiscal 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, up 50% quarter-over-quarter. (The Block)

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