Bernstein: Robinhood stock still has 87% upside, "crypto market nervousness" is just a temporary phenomenon

On February 11, according to The Block, Robinhood’s stock price declined on Tuesday after the company reported a year-over-year decrease in revenue from its cryptocurrency business in the fourth quarter. However, Bernstein analysts, a research and brokerage firm, stated that this weakness reflects a temporary “crypto market sentiment” and reaffirmed their $160 target price. Robinhood’s total platform revenue hit a record high, but cryptocurrency trading revenue fell 38% year-over-year to $221 million. Bernstein analysts noted that the decline in revenue caused by decreased crypto trading activity was “expected” and said there was no need to turn bearish as the stock approached a cyclical low. Despite the “crypto market sentiment,” several of the company’s business metrics remained robust in the fourth quarter. Additionally, Robinhood Banking, launched at the end of 2025, has attracted over 25,000 funded customers with total account balances exceeding $400 million. Analysts pointed out that Robinhood’s forecasted market has set new records, accounting for approximately 14% of trading revenue and 8% of total revenue. The platform traded 8.5 billion contracts in the fourth quarter, far exceeding previous expectations. The report shows that trading volume had reached $4 billion in early 2026, compared to the previously forecasted $27 billion for 2026.