Bernstein SocGen Group Reiterates Outperform Rating on Robinhood Markets (HOOD)

Bernstein SocGen Group analyst Gautam Chhugani reiterated an Outperform rating and $160.00 price target on Robinhood Markets (NASDAQ: HOOD).

The analyst commented: "The exchange is now a 24*7 chain...and the chain is now earnings; Robinhood chain went live on July 1, and in just two months has become a Top 5 chain across all the key metrics - transaction fees (#1 in fees last 15 days - HOOD retains ~50% of fees), trading volumes - both spot and perp futures, and tokenized equities volumes. Robinhood chain is a 24*7 blockchain network venue for retail investors to trade stock tokens, crypto tokens, lend/borrow assets, earn yield on stablecoins and other real-world assets. HOOD chain trading fees are tracking $2-4mn/day (last 15 days ~$33Mn). HOOD retains ~50% revenues, sharing with Arbitrum (tech provider) and Ethereum mainnet (as Layer 1 data fees). Our current estimates include $160Mn fees from Robinhood chain by 2028E (see our last note - Robinhood: The battle for next generation markets...moving PT to $160). Blockchain revenues by definition are high margin, straight flowing to HOOD EPS."

For an analyst ratings summary and ratings history on Robinhood Markets click here. For more ratings news on Robinhood Markets click here.

Shares of Robinhood Markets closed at $122.11 yesterday.

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