Robinhood Analyst Projects 31% Upside, Says Trading Platform 'More Batman Than Robin'
Robinhood Analyst Projects 31% Upside, Says Trading Platform 'More Batman Than Robin'
Robinhood Markets Inc. (NASDAQ:HOOD) just got a significant vote of confidence from Wolfe Research analyst Steven Chubak, who upgraded the stock from Peer Perform to Outperform, citing strong growth prospects and a durable earnings trajectory. The upgrade follows an insightful meeting with CFO Jason Warnick, which bolstered Chubak's bullish stance on the stock.
Wolfe研究分析師Steven Chubak表示，與CFO Jason Warnick的洽談加強了他對Robinhood Markets Inc. (NASDAQ:HOOD)股票的看好，他將股票評級從Peer Perform調升至Outperform，並認爲該股具有強勁的成長前景和可持續的盈利軌跡。
Key Takeaways From The Robinhood Stock Upgrade
Robinhood股票升級的重點總結
- New Rating and Target: Chubak's new price target for Robinhood stock is $29, implying a 31% upside from its current price. His base case suggests a +30% GAAP EPS growth, driven by 20%+ net deposit growth and robust account growth.
- EPS Growth: Wolfe Research forecasts HOOD's 2026 GAAP EPS to be about 70% above consensus estimates, suggesting significant undervaluation by the market.
- Operating Leverage: With a 90% fixed expense base and 75% incremental margins, HOOD is positioned to capitalize on its strong free cash flow (FCF) generation.
- 新評級和目標：Chubak對Robinhood股票的新價格目標是29美元，相當於目前價格的31%。他的基本情形表明，由於20%+的淨存款增長和強勁的帳户增長，+30%的GAAP EPS增長推動，目標實現可能性大。
- EPS增長：Wolfe Research預測HOOD的2026 GAAP EPS約比共識預計高出70%，這意味着市場對其進行了顯著的低估。
- 運營槓桿：由於固定費用佔90%，增量利潤率爲75%，HOOD有望充分利用其強大的自由現金流(FCF)產生能力。
Robinhood Investment Thesis
Robinhood投資論點
Robinhood has made significant strides since its IPO, addressing initial concerns about GAAP profitability, retail KPI sustainability, and regulatory risks. "HOOD has demonstrated tangible progress in delivering best-in-class NNA growth, taking share among Active Traders, and executing on new product launches," said Chubak.
自IPO以來，Robinhood已經取得了重大進展，解決了關於GAAP盈利能力、零售KPI可持續性和監管風險的初步擔憂。Chubak表示:"HOOD在提供最佳NNA增長、在活躍交易員中佔有份額以及執行新產品發佈方面取得了實質性進展。"
Despite a 74% year-to-date rally, Chubak believes the stock has further room to grow. The stock's performance has been driven by EPS momentum rather than multiple expansions, and recent investor engagement suggests growing interest from institutional investors and hedge funds, the analyst says.
儘管猛漲74%，但Chubak認爲該股票還有進一步上漲空間。分析師表示，股票的表現是由EPS動力推動而非倍增推動的，最近的投資者參與表明機構投資者和對沖基金對其的興趣日益增長。
Also Read: Analyzing Robinhood Markets's Short Interest
還閱讀了Robinhood Markets的空頭持倉分析
Financial Estimates and Projections:
財務預測和投影:
Wolfe Research projects substantial EPS growth for HOOD:
Wolfe Research預計HOOD的EPS將大幅增長:
- 2023E: EPS Growth of -348.06%
- 2024E: EPS Growth of 67.66%
- 2025E: EPS Growth of 65.30%
- 2026E: EPS Growth of 31.23%
- 2023E：-348.06%的EPS增長
- 2024E：67.66%的EPS增長
- 2025E：65.30%的EPS增長
- 2026E：31.23%的EPS增長
This robust projected growth, along with HOOD's best-in-class incremental margins, underpins Wolfe Research's $29 price target and justifies a premium multiple compared to eBroker peers.
這種強勁的預計增長率，加上HOOD最佳的增量利潤率，支撐了Wolfe Research的29美元價格目標，並使其具有相對於其他eBroker同行的溢價多個。
Beyond the Meme and Crypto Hype
除meme和加密炒作外
Chubak clarifies that this upgrade is not driven by speculative crypto price increases or a resurgence in meme stocks. Instead, the focus is on fundamental strengths and growth initiatives. He highlights a credible upside case for Robinhood stock reaching $50 if growth initiatives and regulatory clarity come to fruition.
Chubak澄清了這次升級並非由投機的加密價格上漲或模因股票的復興所推動。相反，焦點在於基本強度和增長倡議。他強調，如果增長倡議和監管清晰度得到實現，Robinhood股票達到50美元的可信上漲案例將成爲現實。
With a 31% upside potential to a $29 price target and a credible path to further gains, Robinhood is shaping up to be "more Batman than Robin" in the investment world, the analyst says.
有着31%的上漲潛力，並有可信的進一步收益路徑，Robinhood在投資界中的地位日益重要，分析師表示。
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Photo: Shutterstock
Photo: shutterstock
譯文內容由第三人軟體翻譯。