Latest news with #PiperSandler
CNBC
7 hours ago
- Business
- CNBC
Trump's tariffs are likely illegal, says Piper Sandler's Andy Laperriere
Andy Laperriere, Piper Sandler, joins 'Power Lunch' to discuss the latest trade headlines and the legality of current trade deals.
Yahoo
11 hours ago
- Business
- Yahoo
Robinhood outgrows meme frenzy era as retail trading matures
By Manya Saini and Niket Nishant (Reuters) -Robinhood's earnings highlight how the app once at the center of the meme-stock mania has evolved into a broader platform to keep retail investors engaged even during market turbulence. The trading platform reported a surge in volumes across equities, options and cryptocurrencies in its second quarter, with momentum continuing in July despite market jitters over tariffs and high interest rates. That marks a sharp contrast from 2022, when Robinhood's business was closely tethered to retail stock buying. After the Federal Reserve kicked off its rate-hiking cycle in March, the firm's trading revenue slumped by nearly half from a year earlier, as many small investors moved to the sidelines. "In 2021, when we went public, it felt to me like we were much more fragile than today," Robinhood CEO Vlad Tenev said on the earnings call on Wednesday. "But now the road map, if you look at things that we expect to deliver in the short-term, medium-term and long-term, is pretty packed," he added, referring to new products such as tokenization and perpetual futures. For the second-quarter, Robinhood reported transaction-based revenue of $539 million, up 65% from a year earlier. Options soared 46% and equities climbed 65%. Crypto revenue nearly doubled. The company has also deepened its crypto presence with a $200 million acquisition of Bitstamp in June, boosting revenue. "Retail engagement remains strong on the platform," analysts at Piper Sandler wrote in a note, adding that the variety of products was supporting the engagement, with equity and options trading volumes tracking at record levels in July, while crypto volumes are near a six-month high. MEME-STOCK FRENZY Earlier this month, a wave of meme-stock mania sent shares of several highly shorted companies, such as donut chain Krispy Kreme, retailer Kohl's and action camera maker GoPro, soaring on retail purchases but without any clear catalyst. The moves echoed the 2021 retail trading frenzy, when individual investors used Robinhood to buy shares of video game retailer GameStop, squeezing hedge funds that had taken short positions against the stock. While there have been some instances of elevated volumes this year, Robinhood CFO Jason Warnick said that the platform enjoys steady engagement even during quieter periods. "Some months will be higher than others. But we feel really good about the acquisition of new customers and the high retention rate," he added. CRYPTO BOOST Crypto trading has soared since the election of Donald Trump as U.S. president for a second term. Volumes have declined from a burst after the election, but analysts see the crypto market remaining sharply above pre-election levels. "We believe the Bitstamp acquisition solidifies Robinhood's crypto roadmap and increases crypto's future contribution to Robinhood's overall earnings, which has most frequently trended to about 10%-20% of revenue," analysts at J.P. Morgan said. Robinhood shares recently touched record highs and the company now has a market capitalization close to $94 billion. Wall Street's average rating on the stock is "buy", with at least seven brokerages raising their price targets after the market-beating earnings report.
Reuters
11 hours ago
- Business
- Reuters
Robinhood outgrows meme frenzy era as retail trading matures
July 31 (Reuters) - Robinhood's (HOOD.O), opens new tab earnings highlight how the app once at the center of the meme-stock mania has evolved into a broader platform to keep retail investors engaged even during market turbulence. The trading platform reported a surge in volumes across equities, options and cryptocurrencies in its second quarter, with momentum continuing in July despite market jitters over tariffs and high interest rates. That marks a sharp contrast from 2022, when Robinhood's business was closely tethered to retail stock buying. After the Federal Reserve kicked off its rate-hiking cycle in March, the firm's trading revenue slumped by nearly half from a year earlier, as many small investors moved to the sidelines. "In 2021, when we went public, it felt to me like we were much more fragile than today," Robinhood CEO Vlad Tenev said on the earnings call on Wednesday. "But now the road map, if you look at things that we expect to deliver in the short-term, medium-term and long-term, is pretty packed," he added, referring to new products such as tokenization and perpetual futures. For the second-quarter, Robinhood reported transaction-based revenue of $539 million, up 65% from a year earlier. Options soared 46% and equities climbed 65%. Crypto revenue nearly doubled. The company has also deepened its crypto presence with a $200 million acquisition of Bitstamp in June, boosting revenue. "Retail engagement remains strong on the platform," analysts at Piper Sandler wrote in a note, adding that the variety of products was supporting the engagement, with equity and options trading volumes tracking at record levels in July, while crypto volumes are near a six-month high. Earlier this month, a wave of meme-stock mania sent shares of several highly shorted companies, such as donut chain Krispy Kreme (DNUT.O), opens new tab, retailer Kohl's (KSS.N), opens new tab and action camera maker GoPro (GPRO.O), opens new tab, soaring on retail purchases but without any clear catalyst. The moves echoed the 2021 retail trading frenzy, when individual investors used Robinhood to buy shares of video game retailer GameStop (GME.N), opens new tab, squeezing hedge funds that had taken short positions against the stock. While there have been some instances of elevated volumes this year, Robinhood CFO Jason Warnick said that the platform enjoys steady engagement even during quieter periods. "Some months will be higher than others. But we feel really good about the acquisition of new customers and the high retention rate," he added. Crypto trading has soared since the election of Donald Trump as U.S. president for a second term. Volumes have declined from a burst after the election, but analysts see the crypto market remaining sharply above pre-election levels. "We believe the Bitstamp acquisition solidifies Robinhood's crypto roadmap and increases crypto's future contribution to Robinhood's overall earnings, which has most frequently trended to about 10%-20% of revenue," analysts at J.P. Morgan said. Robinhood shares recently touched record highs and the company now has a market capitalization close to $94 billion. Wall Street's average rating on the stock is "buy", with at least seven brokerages raising their price targets after the market-beating earnings report.
CNA
11 hours ago
- Business
- CNA
Robinhood outgrows meme frenzy era as retail trading matures
Robinhood's earnings highlight how the app once at the center of the meme-stock mania has evolved into a broader platform to keep retail investors engaged even during market turbulence. The trading platform reported a surge in volumes across equities, options and cryptocurrencies in its second quarter, with momentum continuing in July despite market jitters over tariffs and high interest rates. That marks a sharp contrast from 2022, when Robinhood's business was closely tethered to retail stock buying. After the Federal Reserve kicked off its rate-hiking cycle in March, the firm's trading revenue slumped by nearly half from a year earlier, as many small investors moved to the sidelines. "In 2021, when we went public, it felt to me like we were much more fragile than today," Robinhood CEO Vlad Tenev said on the earnings call on Wednesday. "But now the road map, if you look at things that we expect to deliver in the short-term, medium-term and long-term, is pretty packed," he added, referring to new products such as tokenization and perpetual futures. For the second-quarter, Robinhood reported transaction-based revenue of $539 million, up 65 per cent from a year earlier. Options soared 46 per cent and equities climbed 65 per cent. Crypto revenue nearly doubled. The company has also deepened its crypto presence with a $200 million acquisition of Bitstamp in June, boosting revenue. "Retail engagement remains strong on the platform," analysts at Piper Sandler wrote in a note, adding that the variety of products was supporting the engagement, with equity and options trading volumes tracking at record levels in July, while crypto volumes are near a six-month high. MEME-STOCK FRENZY Earlier this month, a wave of meme-stock mania sent shares of several highly shorted companies, such as donut chain Krispy Kreme, retailer Kohl's and action camera maker GoPro, soaring on retail purchases but without any clear catalyst. The moves echoed the 2021 retail trading frenzy, when individual investors used Robinhood to buy shares of video game retailer GameStop, squeezing hedge funds that had taken short positions against the stock. While there have been some instances of elevated volumes this year, Robinhood CFO Jason Warnick said that the platform enjoys steady engagement even during quieter periods. "Some months will be higher than others. But we feel really good about the acquisition of new customers and the high retention rate," he added. CRYPTO BOOST Crypto trading has soared since the election of Donald Trump as U.S. president for a second term. Volumes have declined from a burst after the election, but analysts see the crypto market remaining sharply above pre-election levels. "We believe the Bitstamp acquisition solidifies Robinhood's crypto roadmap and increases crypto's future contribution to Robinhood's overall earnings, which has most frequently trended to about 10 per cent-20 per cent of revenue," analysts at J.P. Morgan said. Robinhood shares recently touched record highs and the company now has a market capitalization close to $94 billion. Wall Street's average rating on the stock is "buy", with at least seven brokerages raising their price targets after the market-beating earnings report.
Yahoo
12 hours ago
- Business
- Yahoo
LendingClub price target raised to $16.50 from $14 at Keefe Bruyette
Keefe Bruyette analyst Timothy Switzer raised the firm's price target on LendingClub (LC) to $16.50 from $14 and keeps an Outperform rating on the shares post the Q2 report. The firm says accelerating growth drove the company's higher guidance. It cites a faster than expected acceleration in trends for upping its estimates further above consensus. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See today's best-performing stocks on TipRanks >> Read More on LC: Disclaimer & DisclosureReport an Issue LendingClub price target raised to $15.50 from $13 at Piper Sandler LendingClub Reports Strong Q2 2025 Financial Growth Closing Bell Movers: Qorvo, Starbucks jump after quarterly reports LendingClub reports Q2 EPS 33c, consensus 15c LendingClub sees Q3 loan originations $2.5B-$2.6B
