- Deutsche Bank raised its HOOD price target to $136 from $115 and maintained a buy rating, citing stronger Robinhood Chain fee revenue.
- Robinhood Chain daily revenue increased from below roughly $200,000 through mid-August to $4.01 million on September 2, according to DeFiLlama data cited by Deutsche Bank.
- The chain processed more than $47 billion in cumulative DEX volume, but investors are focused on whether volumes and fees persist after the September gas-subsidy program ends and ahead of CEO Vlad Tenev’s September 9 presentation.
Quotes
“We are raising our EPS estimates and our price target for Robinhood (HOOD-Buy) to reflect the recent acceleration in Robinhood Chain fee revenue.”
“The recent momentum is tracking significantly ahead of our prior forecasts, though we caution that visibility into its durability remains limited for now.”