Analyst Michael Grondahl of Northland Securities maintained a Buy rating on Webull Corporation, retaining the price target of $18.00.
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Michael Grondahl has given his Buy rating due to a combination of factors that highlight Webull Corporation’s strong financial performance and strategic initiatives. The company reported impressive third-quarter results, surpassing expectations with significant revenue and operating income figures. This success is attributed to Webull’s ability to attract a growing number of funded accounts and registered users, positioning itself well in the mobile-first trading market.
Furthermore, Webull’s ongoing efforts to expand its product offerings and geographical reach, including its institutional expansion in South Korea and the introduction of prediction markets, have contributed to its robust market presence. The company’s strategic partnerships, such as the one with Vega for AI-driven solutions, have enhanced customer engagement. Additionally, the relaunch of crypto trading and the partnership with Kalshi have shown exceptional results, with a notable increase in prediction contracts, particularly in sports-related markets. These initiatives, coupled with strong customer deposit growth and market share gains, underscore Webull’s potential for continued success, justifying the Buy rating.
In another report released today, Rosenblatt Securities also reiterated a Buy rating on the stock with a $15.00 price target.