Catenaa, Friday, August 08, 2025- Mizuho Securities reiterated its “outperform” rating and $120 price target for Robinhood Markets Inc. (HOOD) after meeting with CEO Vlad Tenev, highlighting the firm’s growing momentum in tokenized U.S. securities and resilient crypto trading.
Analysts led by Dan Dolev expressed confidence in Robinhood’s ability to capture market share from competitors and expand internationally, especially through tokenizing stocks for European investors and younger demographics.
Mizuho noted that about 15% of net deposits originate from rival platforms, a testament to Robinhood’s competitive edge fueled by its capacity to assess customer lifetime value and offer tailored incentives.
Robinhood’s crypto trading volumes grew 32% year-over-year to $28 billion in the second quarter, down from $46 billion in Q1, contributing to a total crypto volume exceeding $141 billion in 2024.
This growth contrasts with Coinbase’s plan to introduce tokenized stocks and new crypto products, intensifying competition in regulated U.S. crypto markets.
Mizuho emphasized the significant wealth transfer opportunity, valued at $100 trillion, as younger generations seek exposure to private markets, equities, and crypto.
The firm also highlighted Robinhood’s potential to leverage tokenized stocks as a key vehicle for international investors to access U.S. equities.
