Bernstein lifts Robinhood target on tokenisation push

• Bernstein has raised its price target for Robinhood.
• The brokerage cited growth in tokenised assets and prediction markets.
• Analysts believe new products could support Robinhood's long-term expansion.

Bernstein has increased its price target for Robinhood, pointing to the company's growing focus on tokenised assets and prediction markets.

The analysts said Robinhood is expanding beyond traditional stock trading as it adds more blockchain-based financial products.

"There is a significant opportunity in tokenisation and prediction markets," Bernstein analysts said.

Bernstein said tokenised real-world assets and prediction markets could attract new users and create additional revenue streams for Robinhood over time.

The brokerage maintained its positive view on Robinhood, saying its expanding product range could strengthen its position in digital finance.

Robinhood has been increasing its crypto offerings while investing in blockchain technology and tokenised financial products.

The company has also expanded internationally as it looks to grow its digital asset business alongside its traditional trading platform.