Bernstein says Robinhood still has room to run

The bull case is still alive

Bernstein SocGen Group is basically saying: don’t count Robinhood out yet. The firm reiterated an Outperform rating on Robinhood Markets and held its $130 price target, arguing that a recovery in crypto markets plus growth in prediction markets could give revenue another gear.

Why investors are paying attention

This isn’t just a “nice note from Wall Street” moment. Bernstein’s setup matters because it’s leaning into the exact ingredients traders care about for HOOD:

• a healthier crypto backdrop
• more activity in prediction markets
• revenue and earnings estimates that sit above consensus for 2026

That’s the kind of cocktail that can keep a growth stock buzzing, even when the broader market is acting like it had too much caffeine and not enough sleep.

But the plot thickens

Robinhood also got a couple of more cautious edits from other analysts. Truist trimmed its target to $100 from $120, while Citizens cut its target to $155 from $180 after lowering first-quarter 2026 EBITDA expectations.

So the message is a little mixed: the bulls still see upside, but some folks are dialing back their enthusiasm on transaction-based revenue. Translation? Robinhood remains a story stock, and story stocks love it when the narrative gets louder.

Big picture: if crypto keeps recovering and prediction markets keep growing, Robinhood’s business mix gets a lot more interesting — and potentially a lot more valuable.