Robinhood, a US -based popular trade application, came to the fore in the markets with its financial performance recorded in the fourth quarter. The company has exceeded its expectations of analyst thanks to the major increase in the income from crypto currency transactions.
Financial performance
Robinhood increased by 115 %in total income in the fourth quarter compared to last year and reached $ 1.01 billion. Transaction -based gains increased by 200 %compared to last year, while crypto revenue increased by 700 %. According to JPMorgan’s research report, 358 million dollars were recorded in crypto currency trading revenue. This figure reflected an important increase in the company’s crypto asset traffic.
Robinhood announced important plans for expanding and developing crypto business lines. The company’s management is working on the targets of listing more token, strengthening wallet services and integrating the order of the order and stock market guidance.
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“We aim to list more token, strengthen the wallet offer, to add the order of order and stock market guidance, to ensure the integration of Bitstamp and to examine the long -term tokens.” -Rinhood management
Analyst Opinions and Market Expectations
Market analysts updated the company’s performance. JPMorgan stock price increased its target from $ 39 to $ 45, while the Citi increased the target from $ 45 to $ 60. Broker Bernstein increased his expectations for the price target by more than twice the $ 105, and his company said he would continue his acceleration in the past.
After the announcement of the fourth quarter results, the stock increased by 13 %of pre -market transactions. The growth of the company’s crypto market and the increase in transaction volume indicate more potential.
Robinhood shares will continue to be followed by investors during the periods of the increase in current market trends and transaction volume. Although it is foreseen that time -related fluctuations are foreseen, there are positive expectations over the basic performance of the company.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
