Bernstein raises Robinhood price target, cites tokenization and prediction marketsThe brokerage’s blockchain strategy, including tokenized equities and its Arbitrum-based Robinhood Chain, could reduce its reliance on traditional crypto trading, analysts said.
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Bernstein analysts have raised their price target on Robinhood Markets (HOOD) stock from $130 to $160 per share, while maintaining an Outperform rating. This upgrade is based on their belief that Robinhood’s future growth will come primarily from tokenized equities and prediction markets, rather than the company’s traditional crypto trading business. As of the report, HOOD shares traded around $101.
According to Bernstein, prediction markets are expected to be Robinhood’s fastest-growing business segment, with forecasted revenues reaching $1.7 billion by 2028, representing a compound annual growth rate of 64%. In addition, the analysts see tokenized equities as a major long-term opportunity. Robinhood’s investment in blockchain infrastructure, specifically its Arbitrum-based layer-2 network called Robinhood Chain, enables the company to issue and trade on-chain financial products without depending on third-party blockchains.
Bernstein projects that tokenization will become a foundational layer for capital markets, with the on-chain real-world asset market expected to grow from approximately $35 billion today to between $2 trillion and $4 trillion by 2030. They anticipate tokenized equities will become an increasingly significant part of this growth, expanding beyond currently tokenized assets like Treasury securities and private credit. Robinhood is actively competing in “battleground” asset classes such as prediction markets, perpetual futures, and tokenized real-world assets.
This report coincides with broader institutional developments in tokenization infrastructure. Financial entities like Alpaca and Broadridge Financial Solutions have integrated governance tools for tokenized securities, enhancing shareholder rights such as proxy voting and regulatory disclosures. Similarly, partnerships like Securitize with Cantor Fitzgerald are building infrastructure for compliant blockchain-based equity offerings. The institutional momentum reflects a growing market, with tokenized stocks reaching nearly $2 billion in market value this year.