Morgan Stanley upgraded Robinhood from Equal Weight to Overweight with a new price target of $150, up from $124, according to analyst Michael Cyprys. The bank is betting on Robinhood’s ability to extract more revenue from its existing 28.4 million funded users, as average revenue per user jumped 24% year-over-year to $187 in Q2 2026. Prediction markets generated $156 million in the same quarter, outpacing the $100 million in crypto trading revenue. All 13 of Robinhood’s business lines now exceed $100 million in annualized revenue, and full-year 2025 revenue hit $4.5 billion, up 52% from the prior year. Total platform assets reached $369 billion by mid-2026 with roughly $76 billion in trailing 12-month net deposits.
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