Piper Sandler raises Robinhood target to $145 on 29.7 billion event-contract outlook
Piper Sandler raised its price target on Robinhood stock to $145. The firm's base case projects roughly 29.7 billion event contracts traded on the platform between September and December 2026. The forecast is driven by football season demand. The stock retreated despite the higher target. Piper Sandler joins Morgan Stanley in above-$145 targets tied to prediction market growth. The 29.7 billion figure represents a volume projection, not revenue.
Wall Street has now made prediction markets a valuation pillar for Robinhood, not a side bet. Two separate firms have issued price targets above $145 that assume event-contract revenue sustains or grows. That shifts risk from trading performance to regulatory outcomes.
Any CFTC restriction or state gambling reclassification would hit earnings models harder than a revenue miss. Robinhood routes event-contract volume through Kalshi and the Rothera joint venture, so a partner dispute would force immediate migration. The platform's next vertical integration move will set the template for how brokerages source prediction markets.