Bernstein analysts maintained an Outperform rating and $160 price target on Robinhood Markets, citing its new Layer-2 network, Robinhood Chain, as a significant earnings source. The network generated approximately $33 million in fees over the past 15 days, surpassing Solana's roughly $11 million and BNB Chain's $9 million. Robinhood retains about 90% of these fees. Robinhood Chain, launched on July 1, has accumulated about $1.5 billion in TVL and over $50 billion in DEX volume, with tokenized stock value climbing from $10 million to $140 million in the last two months.