FINWIRES · TerminalLIVE
FINWIRES

Robinhood's Chain Fees Jump, Supporting Growth Outlook, Deutsche Bank Says

By

Robinhood Markets' (HOOD) blockchain-based transaction fees, known as chain revenue, are surging and are on track to surpass a $100 million annualized run rate, Deutsche Bank said Friday in a note.

Daily chain revenue remained below $200,000 through mid-August before rising to almost $500,000 on Aug. 29, about $1 million on Aug. 30, $1.92 million on Monday, $3.38 million on Tuesday and $4.01 million on Wednesday, Deutsche Bank said, citing data from DeFiLlama, an analytics platform.

The five-day total of $10.8 million translates to about $5.4 million of fee revenue for Robinhood, compared with Deutsche Bank's prior Q3 estimate of $4.6 million, the note said.

Recent momentum is tracking well ahead of prior forecasts, though visibility into how long the surge will last remains limited, the note said.

Deutsche Bank raised its price target on Robinhood stock to $135 from $115 and maintained its buy rating.

Price: $123.39, Change: $-1.33, Percent Change: -1.07%

Related Articles

Wire

Vaxcyte Names New Medical and Legal Chiefs Ahead of Key Phase 3 Data

Vaxcyte (PCVX) appointed Luis Jodar as chief medical officer and David McAvoy as chief legal officer, the company said on Thursday.Jodar spent 17 years at Pfizer (PFE), most recently as senior vice president and chief medical officer for Vaccines and Infectious Diseases, the company said.McAvoy joins the company from Teva Pharmaceutical (TEVA), according to a statement.The vaccine developer also said it now expects to report topline data from its phase 3 OPUS-1 trial of VAX-31 in adults by the end of October, narrowing its previous guidance of a Q4 data release.

$PCVX
Wire

eGain Fiscal Q4 Adjusted Earnings, Revenue Fall; Shares Slump After Hours

EGain (EGAN) reported fiscal Q4 adjusted earnings late Thursday of $0.08 per diluted share, down from $0.09 a year earlier.Three analysts polled by FactSet projected $0.03.Revenue in the three months ended June 30 fell to $22.2 million from $23.2 million a year earlier.Three analysts projected $21.7 million.The company expects fiscal Q1 adjusted EPS of $0.05 to $0.08 on revenue of $20.9 million to $21.4 million. Three analysts project EPS of $0.08 on revenue of $22.3 million.For fiscal 2027, eGain expects adjusted EPS of $0.04 to $0.07 on revenue of $84.5 million to $86 million. Three analysts project EPS of $0.43 on revenue of $94.1 million.EGain shares slumped 29% in after-hours trading.

$EGAN
Wire

American Outdoor Brands Fiscal Q1 Swings to Adjusted Earnings, Revenue Rises

American Outdoor Brands (AOUT) reported fiscal Q1 non-GAAP earnings late Thursday of $0.03 per diluted share, swinging from a loss $0.26 year earlier.Two analysts polled by FactSet expected a loss of $0.24.Net sales for the quarter ended July 31 were $37.3 million, up from $29.7 million a year earlier.Two analysts expected $35.6 million.For fiscal 2027, the company maintained its net sales forecast of $200 million to $210 million. Two analysts expect $205.1 million.Shares of the company rose over 16% in after-hours trading.

$AOUT