Robinhood (Hood)’s strong second quarter revenue urged Wall Street to raise expectations for the stock on Wednesday evening, but a modest boost suggests that the group thinks many benefits are priced.
The stock traded slightly higher at $106.50 on Thursday morning.
Citi raised its price target from $100 to $120, but continued with a neutral rating of the stock. Even after a major revision of his earnings, analyst Christopher Allen warns that much of Robinhood’s future growth is already on the stock price.
JPMorgan analyst Kenneth Worthington also valued Hood Neutral and raised its December 2026 price target from $98 to $104. With the company’s acquisition of Crypto Exchange Bitstamp, Robinhood accelerated Crypto’s revenue of $160 million (approximately 16% of the total), driving an estimated trading volume of $6.7 billion from Bitstamp.
Keefe, Bruyette & Woods (also neutral) raised its target from $89 to $106, highlighting the rebounds of securities lending and crypto trading from Bitstamp in particular. The company has also revised its EPS estimate upward over the next three years, citing increased user engagement and improved margins.
Brett Knoblauch of Cantor Fitzgerald has raised its price target from $100 to $118, only among the group with a purchase rating in food. His team is currently valuing Robinhood at the 40x 2026 EV/EBITDA, and Knoblauch believes the company has room for even more increase in interest revenues for crypto, options and margins. He pointed to strong momentum across new products such as Robinhood Strategies, Crypto Staking and the upcoming Robinhood Banking Service.
What does this mean for Coinbase’s revenue later today?
Robinhood’s crypto revenues were bolstered by the addition of Bitstamp’s institutional flow, but also benefited from retailers returning to the market. If Coinbase reports similar activities (particularly from retail), it could indicate a broader revival in cryptographic involvement. Because Coinbase’s business relies heavily on crypto and institutional activity, the strong outcome of Robinhood could foresee the beat if the same trend occurs on Coinbase’s platform.
However, Coinbase lacks Robinhood’s diversification from Crypto Markets volatility to interest income and securities lending that insulated Robinhood last year. This puts more pressure on Coinbase and shows that crypto trading volume alone can drive revenue growth. Investors are looking closely.
Factset Projects Coin reports revenues of $1.59 billion and second quarter earnings per share. The stock is up 1.6% today, trading at $383.56 per piece.
