Robinhood Gets Triple Price Target Bump on Prediction Bet

Wall Street piled onto Robinhood (NASDAQ: HOOD) this week with a wave of price target increases, and the reasoning behind them tells you exactly where the growth story is heading next. It isn't stock trading anymore — it's prediction markets.

Goldman Sachs raised its price target on Robinhood to $142 from $124 while keeping a Buy rating, pointing to early scaling of the company's prediction market exchange, Rothera. Jefferies followed with a bump to $140 from $127, also Buy, and StoneX analyst Mark Palmer went furthest, initiating coverage with a Buy and a $170 target — implying roughly 45% upside from Tuesday's close of $117.34.

Jefferies' move came after a meeting with Robinhood CFO Shiv Verma, and the firm cited "robust" net deposits, growing Gold subscriber numbers, and what it called an "aggressive" product roadmap. The analyst also flagged that activity on Robinhood Chain has been picking up fast, with daily fees hitting $8.2 million on September 4th and daily trading volume reaching $3.8 billion — numbers that would have looked unrealistic for the platform just a year ago.

The prediction markets push got a concrete boost this week too. Robinhood expanded its partnership with Crypto.com in a multi-year deal that adds yes-or-no event contracts from Crypto.com's OG.com business to the Robinhood app, a move Bloomberg and Axios both confirmed. As part of the arrangement, Robinhood will take minority equity stakes in both Crypto.com and the newly spun-off OG.com, giving it direct financial exposure to the growth of both platforms rather than just a revenue-share arrangement.

Robinhood Chain processed $8.2 million in daily fees and $3.8 billion in volume on Sept. 4, momentum Jefferies calls a sign of accelerating platform adoption.

This is the second major prediction-markets partner for Robinhood, following its existing hub with Kalshi for sports and event contracts. Diversifying providers matters here — it reduces single-partner concentration risk and signals Robinhood wants prediction markets to be a durable, multi-vendor pillar of the business rather than a single side bet that could unravel if one partnership sours.

Robinhood CEO Vlad Tenev posted on X that he's excited to partner on prediction markets, calling out the need for serious market infrastructure behind the category — a signal that Robinhood sees this as core infrastructure investment, not a side experiment. OG.com, for its part, called the deal its largest B2B prediction-markets partnership by transaction volume to date.

For anyone weighing whether to buy in at current levels, the setup is straightforward: three separate analysts just raised or initiated bullish targets in the same 48-hour window, with price objectives ranging from $140 to $170. That's a fairly tight cluster of conviction from firms that don't always agree on timing or magnitude.

The risk here isn't hard to spot either. Prediction markets remain a regulatory gray zone in parts of the U.S., and any adverse ruling or state-level pushback could slow the growth trajectory analysts are pricing in right now. Robinhood's stock has also run hard already this year, so some of this optimism may already be reflected in the current price.

If you're looking for an entry point, watch how Robinhood Chain's fee and volume numbers trend over the next few weeks — that data, not the headline price targets, is the real tell on whether this business line is scaling the way Wall Street expects it to.

Keep an eye on the Kalshi relationship too. If Robinhood shifts volume meaningfully toward Crypto.com and OG.com contracts, that could reshuffle which prediction-markets names benefit most from the sector's overall growth in the months ahead.

Bottom line: Robinhood's brokerage business is fine, but its prediction markets bet is what's moving Wall Street's price targets right now — and three bullish calls in two days is hard to ignore.