Key Takeaways:
- Bernstein raised Robinhood's price target to $160 from $130 per share
- Prediction market revenue seen reaching $1.7 billion by 2028
- Tokenized real-world assets projected at $2 trillion to $4 trillion by 2030
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Bernstein raises Robinhood target to $160 on tokenization and prediction markets
Bernstein raised its price target on Robinhood Markets to $160, citing tokenized equities and prediction markets as the next growth drivers.
"Robinhood's blockchain strategy, including tokenized equities and its Arbitrum-based layer-2 network, could reduce its reliance on traditional crypto trading," analysts led by Gautam Chhugani at Bernstein said in a July 20 research note.
The firm maintained its Outperform rating on HOOD stock, which traded around $101. The new target implies roughly 58% upside. Bernstein forecast prediction market revenue will reach $1.7 billion by 2028, a 64% compound annual growth rate.
The upgrade comes as tokenization gains traction on Wall Street. Bernstein projects the value of onchain real-world assets will grow to between $2 trillion and $4 trillion by 2030 from roughly $35 billion today. Tokenized stocks have grown to nearly $2 billion in market value this year, according to RWA.xyz.
Robinhood Chain, the company's Arbitrum-based layer-2 network, has generated $3.1 billion in decentralized exchange trading volume since its July 1 mainnet launch, Bernstein said. More than 65,000 users hold roughly $13 million in tokenized stocks and $300 million in stablecoins on the network.
The institutional push for tokenization infrastructure is accelerating. Brokerage infrastructure provider Alpaca and Broadridge Financial Solutions integrated shareholder governance tools into Alpaca's Instant Tokenization Network this week. Tokenization platform Securitize and investment bank Cantor Fitzgerald also partnered to develop infrastructure for blockchain-based initial public offerings within existing US securities regulations.
The Bernstein upgrade signals that Wall Street sees Robinhood's blockchain bet as a credible growth driver beyond crypto trading. Investors will watch for user adoption metrics on Robinhood Chain and any expansion of tokenized asset offerings in the coming quarters.
This article is for informational purposes only and does not constitute investment advice.
[1] Bernstein raises Robinhood target on tokenization outlook[2] Bernstein raises Robinhood price target, cites tokenization and prediction markets[3] HOOD stock gains after Bernstein says prediction markets could become a $1.7B business for Robinhood[4] Robinhood Just Launched a New Blockchain. Here's Why Investors Should Care.[5] Analysts stunned by Robinhood's $3.1 billion debut week
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