Robinhood Eyes Major Growth With New Trading Features, While Coinbase Rides Crypto Surge: Analyst
Portfolio Pulse from Anusuya Lahiri
Piper Sandler analyst Patrick Moley maintains an Overweight rating on Robinhood Markets (HOOD) with a $27 price target, citing new trading features and expected revenue growth. Coinbase (COIN) is rated Neutral with a $245 price target, driven by increased trading volumes and higher crypto prices.
October 08, 2024 | 6:04 pm
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POSITIVE IMPACT
Robinhood Markets is expected to introduce new trading features, potentially boosting its market share and revenue. Piper Sandler maintains an Overweight rating with a $27 price target.
The introduction of new trading features like index options and futures is expected to increase trading velocity and market share for Robinhood. The analyst's positive outlook and price target suggest a likely positive impact on the stock price.
CONFIDENCE 95
IMPORTANCE 85
RELEVANCE 90
NEUTRAL IMPACT
Coinbase is expected to see an 88% Y/Y revenue increase driven by higher trading volumes and crypto prices. Piper Sandler maintains a Neutral rating with a $245 price target.
Despite significant revenue growth, the Neutral rating suggests a balanced outlook. The stock price may not see significant short-term movement due to the mixed signals from the analyst.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 80