Bitcoin ETF launches Are Positive For Robinhood, But Limited Direct Driver of Transaction Revenue: Analyst
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Benzinga
Benzinga
Needham analyst John Todaro reiterated a Hold rating on Robinhood Markets, Inc (NASDAQ:HOOD). The analyst modestly increased his estimates for fourth-quarter 2023, driven by higher than initially forecast crypto transactional volumes and revenue. Todaro expects crypto revenue to be near first-quarter 2023 levels and should represent a bright spot and the main driver of transaction-based revenue growth sequentially. Also Read: Fintech Analysis: Robinhood and Block Shine While PayPal Struggles, KeyBanc Analyst Additionally, he increased net interest revenue for 2024 as expectations for the first…
