Robinhood is no longer just the app where your cousin bought GameStop. Bernstein SocGen Group analyst Gautam Chhugani bumped his price target on HOOD from $130 to $160, maintaining an Outperform rating, and the reasoning reads like a crypto-native’s wishlist: prediction markets, a proprietary blockchain, and perpetual futures.
The core thesis is straightforward. Robinhood’s push into emerging asset classes, particularly prediction markets through its joint venture Rothera and on-chain activity via Robinhood Chain, is reshaping what was once a simple stock-trading app into something that looks a lot more like a vertically integrated financial protocol.
The numbers behind the upgrade
Chhugani’s model projects prediction market revenue growing at a 64% compound annual growth rate, potentially hitting $1.7 billion by 2028. For context, that single revenue line would be larger than Robinhood’s entire net revenue was just a few years ago.
New asset classes, which include prediction markets and tokenized equities, are expected to contribute 18% of total revenue in 2027. By 2028, that share climbs to 23%.
