Robinhood's New Index Options & Futures Could Boost Market Share, Analyst Says
Robinhood's New Index Options & Futures Could Boost Market Share, Analyst Says
Piper Sandler analyst Patrick Moley maintained an Overweight rating on Robinhood Markets, Inc (NASDAQ:HOOD) and raised the firm's price target to $30 from $27.
派傑投資分析師Patrick Moley維持對羅賓漢市場公司（納斯達克股票代碼: HOOD）的超配評級，並將公司的目標股價從27美元上調至30美元。
The price target represents ~8 times Moley's new 2026 revenue EPS estimate (up from ~7 times 2026 previously) to reflect the incremental revenue opportunity presented by adding index options & futures.
目標股價約爲Moley新的2026年營業收入每股收益估計的8倍（之前約爲2026年的7倍），以反映通過增加指數期權和期貨所呈現的增量營收機會。
Last week, Robinhood hosted its first inaugural Robinhood Markets Summit 2024 and introduced several new products to its customer base.
上週，羅賓漢舉辦了首屆羅賓漢市場峯會2024年，並向客戶群體推出了幾款新產品。
Also Read: Microsoft, Salesforce Battle Heats Up As AI Agent Technology Takes Center Stage
也可以閱讀: 微軟，賽富時的競爭升溫，人工智能代理技術成爲焦點。
In addition to the latest web-based trading platform ("Robinhood Legend"), Robinhood Markets reiterated plans to launch index options and futures trading in the coming months and revealed details on pricing.
除了最新的基於網絡的交易平台（"羅賓漢傳奇"）外，羅賓漢市場重申計劃在未來幾個月推出指數期權和期貨交易，並詳細介紹了價格方面的細節。
In index options, Gold subscribers will pay $0.35 per contract, and non-gold subscribers will pay $0.50 per contract. In futures, Gold subscribers will pay $0.50 per contract, and non-gold subscribers will pay $0.75 per contract.
在指數期權方面，黃金訂閱用戶將支付每份合約0.35美元，非黃金訂閱用戶將支付每份合約0.50美元。在期貨方面，黃金訂閱用戶將支付每份合約0.50美元，非黃金訂閱用戶將支付每份合約0.75美元。
Given these pricing disclosures, the analyst raised his 2025 and 2026 EPS estimates by ~5%.
考慮到這些價格披露，分析師將他的2025年和2026年每股收益預測提高了約5%。
He increased his 2025 and 2026 EPS estimates by 4 cents each from $0.67 and $0.87 to $0.71 and $0.91.
他將2025年和2026年每股收益預測分別從0.67美元和0.87美元上調至0.71美元和0.91美元。
Moley's base case for 2025-26 assumes index options are ~10% accretive to Robinhood Markets' total options volume, futures trading accounts for ~5% of Robinhood Markets' total DARTs, and Gold customers account for 75% of volumes in both index options and futures trading, as for Moley. This is uncharted territory for Robinhood Markets, which built a brand as the zero-commission online broker for the masses, he added.
Moley對2025-26年的基本情況假設，指數期權對Robinhood Markets的總期權成交量貢獻約10%，期貨交易佔Robinhood Markets總DARTs的約5%，而黃金客戶在指數期權和期貨交易中佔成交量的75%，這是派傑投資的看法。他補充說，對於建立起品牌作爲零佣金在線經紀平台的大衆化形象方面，對Robinhood Markets而言這是未知領域。
The more compelling near-term opportunity for Robinhood Markets could lie with active retail traders on competitor platforms drawn in by Robinhood Markets' lower prices. Moley noted that these product launches for Robinhood Markets will likely put pricing pressure on the incumbents in both index options and futures trading.
對於Robinhood Markets來說，更有吸引力的短期機會可能在於競爭對手平台上受吸引而來的活躍零售交易者，因爲Robinhood Markets的價格更低。 Moley指出，對於Robinhood Markets而言，這些產品推出可能會給指數期權和期貨交易的現有公司帶來價格壓力。
Moley summed up that while Robinhood Markets' offering might not be as robust as its competitors, the combination of its new web platform, incentive match programs, and lower pricing on popular tools for active retail traders might just be enough to win market share among more sophisticated, active retail traders.
Moley總結說，雖然Robinhood Markets的產品可能還不及競爭對手強大，但其新的網絡平台、獎勵匹配項目以及針對活躍零售交易者的熱門工具的定價更低，可能足以在更復雜、積極的零售交易者中贏得市場份額。
Price Action: HOOD stock is up 0.84% at $27.06 at last check Monday.
股價走勢：HOOD股票在上週一最新價格爲27.06美元，漲幅爲0.84%。
Image via Shutterstock
圖片來自shutterstock。
Also Read:
還閱讀：
- Alibaba Uses AI Tool Quanzhantui To Boosts Singles' Day Sales, Driving Growth for Merchants
- 阿里巴巴利用人工智能工具全站推來推動雙十一銷售，爲商家帶來增長
譯文內容由第三人軟體翻譯。
