HOOD CFO Meeting: Shiv(a) The Destroyer of Legacy Brokerage Barriers Amid Super-App Ambitions

Research evidence excerpt

HOOD CFO Meeting: Shiv(a) The Destroyer of Legacy Brokerage Barriers Amid Super-App Ambitions

Brokers, Asset Managers & Exchanges

Retail Brokers - Market Weight

ROBINHOOD MARKETS, INC. (HOOD) June 28, 2026

HOOD CFO Meeting: Shiv(a) The Destroyer of Legacy Rating:

Brokerage Barriers Amid Super-App Ambitions Outperform

Price:

$98.69

The Wolfe Byte Price Target:

Meeting with HOOD CFO outlined a robust product road map and improving trends $109

Prior: $81in the core business. Rothera launch should be a meaningful revenue tailwind near- % Upside:

term. We continue to like HOOD on a combination of mo' and positive estimate 10.4%

revisions. Reiterate OP. View HOOD Model

View Comp Table

Meetings with HOOD CFO Shiv Verma Reinforce HOOD's Position as a Disruptor Company Information

within Discount Brokerage. We had the opportunity to host an investor meeting 52-Week Range $64 - $154

$78,082 Cap. (MM)with HOOD CFO Shiv Verma and Head of IR / Corporate FP&A Chris Koegel. Wolfe Market Enterprise Value (MM) $103,008

View: HOOD has an impressive product roadmap, and new growth initiatives (namely Shares Out. (MM) 791.2

Rothera within Prediction Markets) combined with improving trends in the firm's core Avg. Value Traded (MM)$34,127,164.00

SI% of Float 4.9%

transactional business suggest that shares can continue to work despite significant

QTD outperformance. Shares trade at a premium vs. traditional financials comps 160

(eBrokers, Exchanges) but valuation appears less demanding vs. a broader array 150 140

130of Software comps. Reiterate Outperform rating. PT to $109 on positive estimate

revisions and a higher target multiple (see pg. 2). 120110

Core Business Initiatives: Verma remains focused on generating 20%+ net deposit 9080