Bernstein Sees 31% Upside for Robinhood as New Chain Fees Top Solana

Robinhood chain fees — Analysts at Bernstein have initiated coverage of Robinhood with an outperform rating and a $30 price target, citing strong fee generation from its new blockchain.

The report highlights that Robinhood’s recently launched Layer 2 network, powered by the Polygon CDK, has generated approximately $33 million in fees over its first 15 days. This figure surpasses the fee revenue of established chains like Solana and BNB Chain for the same period.

Bernstein’s $30 price target implies a 31% upside from Robinhood’s current trading level. The analysts argue that the new chain’s early success demonstrates a viable path for the trading platform to diversify its revenue beyond its core brokerage business.

The firm’s positive outlook is partly based on the expectation that Robinhood can leverage its large retail user base to drive adoption of its crypto and blockchain offerings, turning the platform into a more comprehensive financial services hub.