Analysts reboot Robinhood stock price target after crypto event

Yahoo

6 days ago

Analysts reboot Robinhood stock price target after crypto event originally appeared on TheStreet.
In Cannes, they like to say 'qui li ven li vieù'--"Whoever goes there, lives there."
The people at Robinhood Markets () were sure feeling at home at the resort town on the French Riviera, site of the famous international film festival.
💵💰Don't miss the move: Subscribe to TheStreet's free daily newsletter 💰
The Menlo Park, California-based financial services company made a series of announcements at its "To Catch a Token" event on June 30.
'Our latest offerings lay the groundwork for crypto to become the backbone of the global financial system,' Robinhood Chairman and CEO Vlad Tenev said in a statement.
Among other things, Robinhood unveiled the launch of more than 200 tokenized U.S. stocks and exchange-traded funds (ETFs) to its customers in the European Union.
Tokenization of stocks refers to the process of digitally representing stocks as tradable tokens on a blockchain in order to offer fractional ownership of those stocks to potential investors.
"With tokenized stocks, our European app transitions from being a crypto-only app to an all-in-one investment app powered by crypto," Robinhood said.
The exchange also announced the launch of crypto perpetual futures, offering up to 3x leverage to eligible EU customers.
Perpetual-style futures are like standard futures derivatives except that they don't expire at a certain fixed date.
Robinhood will also provide crypto staking to U.S. customers, beginning with Ethereum and Solana.
More Tech Stocks:
Amazon tries to make AI great again (or maybe for the first time)
Veteran portfolio manager raises eyebrows with latest Meta Platforms move
Google plans major AI shift after Meta's surprising $14 billion move
Crypto staking involves locking up cryptocurrency holdings to participate in Proof-of-Stake (PoS) blockchains and earn rewards.
Robinhood launched cryptocurrency trading in February 2018 and it has become a large part of the company's makeup, with crypto revenue accounting for over 43% of its transaction revenue in the first quarter.
"Crypto was built by engineers for engineers, and has not been accessible to most people,' said Johann Kerbrat, general manager and senior vice president of Robinhood Crypto.
'We're onboarding the world to crypto by making it as easy to use as possible—with the goal of bringing powerful tools into one intuitive platform.'
Cryptocurrency adoption has surged in 2025, driven by both institutional and grassroots participation across diverse economies, according to the Global Crypto Adoption Report.
"While high-income countries focus on regulatory frameworks and investment products, lower- and middle-income nations lead in real-world crypto use for remittances, inflation hedging, and payments," the study said.
Global crypto users projected to surpass 950 million by year-end, the report said.
Robinhood's stock reached an all-time high on the day of the event. The company's shares are up 154% since January and the stock has skyrocketed an eye-popping 315% from a year ago.
Investment firms issued research reports following Robinhood's crypto event.
KeyBanc raised the firm's price target on Robinhood to $110 from $60 and kept an overweight rating on the shares.
Robinhood showcased continued product velocity and increased product breadth/depth at its first ever crypto user event, the firm said.Most notable from the event, KeyBanc said, was the introduction of tokenized U.S. equities for Robinhood users in the EU and expanded crypto trading coverage from a geographic standpoint and from a product standpoint.
These announcements, along with others from the event, not only reinforce first-rate innovation, but TAM expansion for the company, KeyBanc said.
Barclays analyst Benjamin Budish said the U.S. stock tokens for EU customers was "interesting" as this allows Robinhood to immediately roll out U.S. stock trading across the European Economic Area, an agreement that extends the EU's single market to some countries that are not EU members.
While many of these offerings were generally expected, what stood out to Budish was Robinhood's relentless focus on the user experience, product velocity, and low cost, which, he said, were very much on display.
Barclays has an overweight rating and $57 price target on the stock.
Bank of America Securities raised the firm's price target on Robinhood to $95 from $65 and kept a buy rating on the shares.
The firm increased earnings estimates through 2027 as well as the stock's multiple to 40-times from 30-times.
The higher earnings estimates, forward growth forecast and multiple are driven by an improved regulatory outlook for digital assets, the firm said.
BofA said there are separate pieces of stablecoin legislation in each house of Congress, and the passage of a unified bill is likely to occur within weeks.
The firm said that it is now more optimistic on the near-term regulatory outlook, which BofA believes will help broaden investor participation in digital assets and support engagement among existing traders.Analysts reboot Robinhood stock price target after crypto event first appeared on TheStreet on Jul 1, 2025
This story was originally reported by TheStreet on Jul 1, 2025, where it first appeared.