The upside potential for Robinhood Markets has largely been priced into shares, according to Wolfe Research. The firm downgraded the online brokerage to peer perform from outperform. Analyst Steven Chuback also removed his price target on the stock, which was set at $51 per share. Shares of the digital trading platform have soared 75.2% in 2025 alone, putting them up 366.3% over the past 12 months. HOOD 1Y mountain Robinhood shares over the last 12 months The company recently reported more than $1 billion in quarterly revenue during the fourth quarter , with the yearly total coming in at a record-breaking $3 billion. Robinhood saw a jump in trading following President Donald Trump’s victory in November on hopes for a more friendly regulatory stance toward cryptocurrencies, in addition to corporate deregulation that drove equities higher. Trump has expressed support for more crypto adoption as well as greater regulatory clarity, “which could unleash numerous revenue growth opportunities for HOOD including additional alt-coins, staking, lending, stablecoins, etc.,” Chubak wrote in a note on Monday. However, competitive risks to Robinhood from other major online brokerages such as Fidelity and Charles Schwab are being overlooked, Chubak added. “HOOD has managed to raise crypto pricing by > 2x since our June upgrade and its pricing remains highly competitive versus other crypto platforms. However, once we have improved regulatory clarity, we could see that advantage get competed away, with potential risk that Fidelity / Schwab launch similar spot crypto trading platforms at more competitive price points,” the analyst said. With shares currently trading at around 30 times Wolfe Research’s earnings per share forecasts, “risk-reward appears much more balanced,” Chubak said. Shares slipped 1.5% Tuesday during premarket trading. Analyst sentiment on the stock is mixed. Of the 18 analysts who cover Robinhood, 12 have a buy or strong buy rating, according to LSEG. However, the average price target implies upside of just 2%.
