# Bernstein Sees Three Robinhood Businesses Contributing About 25% of Revenue by 2028 By John Kim Canonical URL: https://www.tokenpost.com/news/business/42943 Published: 2026-10-28T20:53:35.000Z Updated: 2026-10-28T20:53:35.000Z Section: Business > StoneX kept its $170 price target, while Bernstein retained its $160 target after Robinhood’s third-quarter results missed expectations. Bernstein expects prediction markets, perpetual futures and Robinhood Chain to contribute about 25% of Robinhood’s revenue combined by 2028, while StoneX and Bernstein kept their price targets after the company’s third-quarter results missed expectations. StoneX’s target is $170, and Bernstein’s is $160, a $10 difference. Bernstein also described Robinhood’s crypto business as moving toward an infrastructure role. Crypto activity was weaker in the quarter. Robinhood generated $120 million in crypto transaction revenue, down 55%, while crypto notional trading volume totaled $50 billion, down 38%. The Robinhood app accounted for $21 billion in volume, down 48%, and Bitstamp recorded $29 billion, down 28%. Robinhood’s [third-quarter earnings miss]() included net revenue of $1.424 billion, up 12% year over year, and net income of $476 million, down 14%. Diluted earnings per share was $0.51, below a $0.55 analyst estimate. ## Links in this article - [third-quarter earnings miss](https://www.tokenpost.com/news/investing/42476)