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Robinhood Chain and prediction markets drive StoneX 45% upside view

StoneX set a $170 price target for Robinhood, citing Robinhood Chain fees of about $4.6 million per day by Sept. 3 and a prediction markets revenue jump to roughly $156 million in Q2.

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StoneX’s brokerage and equity research arm upgraded its view on Robinhood, assigning a Buy rating and a $170 price target, implying about 45% upside from Robinhood’s Tuesday close. The view centers on new growth drivers tied to Robinhood Chain, a Layer 2 network, and the company’s prediction markets business, according to The Block.

The Block reported that Robinhood Chain went live on mainnet on July 1 and has, as cited by StoneX, collected more gas fees over a trailing 24-hour period than any other Ethereum Layer. StoneX also pointed to daily fees of roughly $4.59 million by Sept. 3, annualized revenue near $39 million as of Aug. 29, and a model projecting $980 million in revenue by fiscal year 2029 at an 85% margin.

StoneX also highlighted prediction markets as a key pillar. In the second quarter, Robinhood recorded 13.6 billion event contracts traded, and during the World Cup alone, more than 5 billion contracts were traded, generating about $156 million in revenue, a 50% increase from the prior quarter.

Robinhood’s broader shift beyond retail trading services was also part of the analysis, with The Block noting that StoneX said the company has been moving into exchange and blockchain infrastructure. On Tuesday, Robinhood announced a deal with Crypto.com and OG.com to expand prediction markets, taking equity stakes in both and routing a selection of event contracts to OG.com.

Latest closeEthereum $2,505.60 ▲0.6%

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