JMP analyst Devin Ryan reiterated a Market Outperform rating on Robinhood Markets, Inc (NASDAQ: HOOD) with a price target of $23.
Robinhood has announced the launch of its brokerage services in the U.K., entering a market with significant growth potential.
Ryan estimates there are over 10 million self-directed investors in the U.K., considerably smaller than the U.S. market's estimated 80 million. With lower stock ownership rates than the U.S., the U.K. market presents growth opportunities.
Robinhood's entry is marked by a compelling value proposition, especially given that many U.K. firms charge commissions due to the prohibition of payment for ...