Bernstein: Robinhood Stock Still Has 87% Upside, 'Crypto Market Fear' Just a Temporary Phenomenon

On February 11, The Block reported that Robinhood’s stock price dipped on Tuesday following the company’s announcement of a year-over-year decline in fourth-quarter cryptocurrency business revenue. However, analysts at research and brokerage firm Bernstein noted this weakness reflects temporary “crypto market stress,” reaffirming their $160 price target. While Robinhood’s total platform revenue hit an all-time high, its cryptocurrency trading revenue fell 38% year-over-year to $221 million. Bernstein analysts said the revenue softness tied to reduced crypto trading activity was “in line with expectations,” adding there’s no need to turn bearish as the stock nears a cyclical low. Despite “crypto market stress,” the company’s various business metrics remained “robust” in Q4. Additionally, Robinhood Banking—set to launch by the end of 2025—has already attracted over 25,000 funded accounts with a total balance exceeding $400 million. Analysts highlighted Robinhood’s prediction market set a new record, accounting for roughly 14% of trading revenue and 8% of total revenue. The platform traded 8.5 billion contracts in Q4, far outpacing prior expectations. The report noted early 2026 trading volume has reached $4 billion, whereas the company’s previous full-year 2026 projection was $27 billion.