Robinhood's Crypto Bet Pays Off as Barclays and Morgan Stanley Raise Price Targets

Barclays and Morgan Stanley have raised their price targets for Robinhood Markets by up to 50% in recent days, indicating a growing confidence in the company's pivot towards crypto infrastructure. Barclays boosted its target from $82 to $122 on July 9, 2026, while Morgan Stanley increased its target from $95 to $124.

This comes just after Robinhood Chain posted a record $563.9 million in daily decentralized exchange volume on July 8, 2026, driven largely by memecoin trading, particularly the token Cash Cat.

The upgrades suggest that analysts have fundamentally changed their modeling of the business, rather than simply revising quarterly numbers. This is significant, as it indicates a growing recognition of Robinhood's potential in the crypto space.

However, there are risks associated with this move. Memecoin-driven volume can be notoriously fickle, and the company is entering a crowded DeFi market with established players such as Uniswap and dYdX.