JPMorgan Doubles Robinhood Price Target to $98 on Crypto and Tokenization Momentum
Robinhood’s growing footprint in digital assets and tokenized finance is fueling bullish sentiment, with JPMorgan raising its 2026 price target for the company to $98, up from $47 for 2025.
The Wall Street bank cited Robinhood’s recent acquisition of crypto exchange Bitstamp and its launch of tokenized equity trading in the EU as major catalysts for long-term growth. These developments, analysts said, significantly strengthen the company’s position in the evolving digital finance landscape.
Robinhood (HOOD) is set to report second-quarter earnings on Wednesday, with JPMorgan forecasting earnings per share of $0.31, up from $0.21 a year ago. Revenue from transaction-based activities is expected to hit $515 million, according to the bank.
Crypto trading revenue is projected to double year-over-year to $169.3 million, though still down from $247 million in Q1 — highlighting the platform’s sensitivity to crypto market activity. Shares of Robinhood, which have rallied 170% year-to-date, were recently trading at $105.95, down 0.7% on the day.
The $200 million Bitstamp acquisition, completed in June, bolsters Robinhood’s global crypto offering. In Europe, Robinhood has rolled out tokenized stock trading, initially offering more than 200 tokenized equities and ETFs under the EU’s MiCA regulatory framework. Full 24/7 trading is expected once Bitstamp’s order book is integrated.
Robinhood is also expanding into private market exposure, planning to offer tokenized access to companies like OpenAI and SpaceX — a move aimed at giving retail investors access to assets typically reserved for institutions.
While this business line is still developing, regulatory signals are encouraging. The SEC’s recent approval of broker-dealer status for Dinari, a tokenized equity platform, suggests growing openness in the U.S. that could benefit Robinhood over time.
JPMorgan maintained a neutral rating on Robinhood stock but noted the firm’s crypto and tokenization efforts could create meaningful long-term upside. Analysts said Robinhood is well-positioned to leverage the structural shifts in finance and benefit from increased adoption of blockchain-based assets.
