Robinhood Stock Jumps on Record Blockchain Revenue and Analyst Upgrades

Robinhood Markets (HOOD) shares surged in pre-market trading after the company's proprietary blockchain network achieved a significant revenue milestone, a development that coincided with a series of new, bullish calls from Wall Street analysts.

Blockchain Milestone Drives Gains

The primary catalyst for the rally was a landmark performance from Robinhood's Layer-2 network. According to data from blockchain analytics platform Messari, the Robinhood Chain generated over $3.8 million in network revenue on September 1, 2026.

This figure positioned the network first among all global blockchains for that day, capturing approximately 38% of the total network revenue. For investors, this data point provides tangible evidence of the growing adoption and on-chain activity of Robinhood's digital asset infrastructure.

Wall Street Analysts Turn Bullish

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The strong on-chain metrics were amplified by a flurry of positive analyst sentiment. The endorsements, which began just as the blockchain data was recorded, created a powerful signal for the market.

• Morgan Stanley: Upgraded HOOD to Overweight from Equal Weight on Sep. 1, increasing its price target to $150 from $124. The firm cited growing evidence that Robinhood's expanded product line is increasing revenue per customer.
• Scotiabank: Initiated coverage on Sep. 2 with a Sector Outperform rating and a $136 price target.
• Piper Sandler: Raised its price target to $145 from $135 on Sep. 2, noting the upcoming football season as a potential catalyst for its prediction market volumes.

Market Context

Robinhood's pre-market gain of 3.2% stood in contrast to the broader market, with the S&P 500 trading near flat and the Nasdaq slightly negative, indicating the move was almost entirely company-specific. The combination of the record-setting revenue from its proprietary technology and fresh endorsements from influential analysts created a self-reinforcing momentum for the stock, pushing it toward levels not seen in recent weeks.