StoneX Gives Robinhood $170 Price Target Amid Blockchain Growth

StoneX Financial has initiated coverage of Robinhood with a Buy rating and a $170 price target, implying roughly 45% upside from the company's Tuesday closing price of $117.34.

The call comes as Robinhood increasingly moves beyond its traditional retail brokerage business, with Robinhood Chain and prediction markets emerging as two important growth pillars.

Robinhood Chain is central to the StoneX investment thesis. The Ethereum Layer 2 launched on mainnet on July 1, initially targeting tokenized stocks and other real-world assets.

The network has generated significant fees and trading volume, with roughly $4.59 million in daily fees on September 3, and annualized revenue approaching $39 million as of August 29.