StoneX Initiates Robinhood Coverage With Buy Rating

Robinhood opened higher on Wednesday, 9 September 2026, after StoneX Financial initiated coverage on the company with a Buy rating. Analyst Mark Palmer assigned a $170 price target to the stock, which implies an upside potential of about 45% from current levels.

Robinhood shares have gained about 80% compared with their year-to-date low reached in late March. The stock currently trades at a price-to-earnings multiple of nearly 59x.

Palmer attributed his view to the company's shift toward high-margin services such as crypto, options, prediction markets, and a proprietary Layer 2 blockchain ecosystem. He noted that Robinhood is expanding into owned market infrastructure through Rothera and Robinhood Chain. Strategic deals in event contracts with regulated exchanges are also increasing engagement across its 28.4 million funded accounts, unlocking recurring revenue from net interest income and premium subscriptions.

In the second quarter, Robinhood reported a 32% year-over-year revenue increase alongside acceleration across other operating metrics. Palmer projects that company scale will push adjusted earnings to $6.24 per share by 2029. Separately, Barchart maintains an 88% Buy opinion on the stock. Across Wall Street, the consensus rating is Strong Buy, with an average price target of about $129, indicating potential upside of more than 10%.