StoneX Financial Initiates Robinhood at Buy With $170 Price Target

StoneX Financial initiated coverage of Robinhood with a Buy rating and a $170 price target, implying about 45% upside from Tuesday's close of $117.34. According to Odaily, StoneX said Robinhood Chain's daily fees reached about $4.59 million at one point through September 3 and projected $980 million in revenue by fiscal 2029 with an 85% profit margin. It also said Robinhood's prediction markets traded 1.36 billion event contracts in the second quarter, generating about $156 million in revenue, up 50% from the previous quarter.