Robinhood Markets (HOOD) PT Raised to $165 at Citizens on Big Potential

Citizens analyst Devin Ryan raised the price target on Robinhood Markets (NASDAQ: HOOD) to $165.00 (from $155.00) while maintaining a Market Outperform rating.

The analyst commented, "We increase our 2027 estimates to reflect an initial contribution from Robinhood Chain and raise our PT to $165 from $155. We include ~$1M per day of net Robinhood Chain revenue in 2027, or ~$365M for the year. Assuming Robinhood reaches the 85% revenue-sharing tier by 2027, our estimate implies approximately $1.2M per day of underlying sequencer revenue, roughly 65% below the $3.3M average daily pace during the seven days ended September 8th. We expect considerable volatility and are not carrying the Labor Day activity forward. At the same time, the recent revenue was generated against a still-small base of active real-world assets, and we expect the base of TVL, assets, applications, and recurring activity to increase materially over time. We reiterate our Market Outperform rating and new $165 price target which reflects an approximately 30x EV/2027E adjusted EBITDA multiple on our increased estimate and is also supported by a long-term DCF analysis."

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