Piper Sandler increased estimates for Robinhood (HOOD) saying the company announced better than expected December to-date trading volumes. The most surprising data point is the resilience in crypto volumes post-election, as crypto volumes declined just 20% from elevated November volumes and came in over two-times higher than Piper’s previous estimate, the analyst tells investors in a research note. Piper increased its Q4 earnings per share estimate to 47c from 33c due to the impact of stronger than expected December trading volumes. The firm keeps an Overweight rating on Robinhood with a $54 price target
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Read More on HOOD:
- Robinhood Markets Expands Board with Christopher Payne
- Ripple’s Stablecoin Launch Takes Aim at Tether’s Market Lead
- Unusually active option classes on open December 16th
- Exploring New Markets Could Send RobinHood on Another Growth Boom
- Robinhood CFO sells $6.02M in common stock
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
