Cathie Wood's Ark Invest increased its holding in Robinhood on Tuesday by purchasing 27,083 shares. The acquisition, valued at $3.18 million, aligns with a Buy rating from StoneX analyst Mark Palmer, who assigned the stock a $170 price target representing approximately 45% upside from current levels. Palmer credited the launch of Robinhood Chain for providing a new growth driver for the company.

Bernstein maintained its Outperform rating and $160 price target for the trading platform. Analysts at both StoneX and Bernstein highlighted the brokerage's expansion into prediction markets and the rollout of its own blockchain as the primary catalysts for the positive valuation outlook.