Rosenblatt Securities Initiates Coverage on Webull (BULL) with 'Buy' Rating
Rosenblatt Securities Initiates Coverage on Webull (BULL)
Rosenblatt Securities has initiated coverage of Webull Corporation (NASDAQ:BULL) with a 'Buy' rating and a price objective of $19.00. This development underscores a growing analyst confidence in the mobile-first brokerage platform, which has demonstrated robust growth and strategic market expansion. The initiation of coverage by a prominent research firm often serves as a significant catalyst for investor interest and can influence market perceptions.
The Event in Detail: Analyst Endorsement and Market Reaction
On Thursday, Rosenblatt Securities formally began its coverage of Webull (NASDAQ:BULL), assigning a 'Buy' rating and an ambitious price target of $19.00. This valuation is predicated on 33 times Rosenblatt's 2027 Adjusted EBITDA estimate, reflecting expectations of sustained top-line growth. Webull, currently valued at approximately $6.76 billion, has rapidly ascended from a niche market data platform to become the second-largest mobile-first brokerage in the United States.
In tandem with this analyst endorsement, BULLZ, a related security representing Webull Corporation Incentive Warrants, experienced a substantial surge of 128.05%. This significant price movement in BULLZ directly correlates with the positive sentiment surrounding Webull's underlying stock and its recent operational successes. Webull successfully raised over $200 million in Q2 2025 from the exercise and redemption of all outstanding BULLZ incentive warrants, providing a capital injection that further strengthens its financial position.
Analysis of Market Reaction: Growth Drivers and Strategic Positioning
The positive market reaction to Webull, particularly the notable increase in BULLZ, is driven by a combination of strong financial performance and strategic business maneuvers. Rosenblatt highlighted Webull's ability to leverage zero commissions, advanced mobile technology, and social media engagement to capture significant market share. The company's top-rated app and integrated desktop platform are cited as key competitive advantages, enabling both domestic and international expansion by catering to active retail traders.
Webull's Q2 2025 financial results further substantiate this positive outlook. The company reported a 46% year-over-year increase in total revenues, reaching $131.5 million. Trading-related revenue showed an even more impressive growth of 63% year-over-year. This accelerating revenue growth, coupled with effective expense management, contributed to Webull achieving its third consecutive quarter of operating profitability, with an adjusted operating profit of $23.3 million.
Furthermore, Webull's strategic re-entry into the cryptocurrency trading market, following a temporary pause, has been a pivotal driver. The relaunch of crypto trading services globally, beginning with Brazil and with plans for U.S. market expansion in Q3 2025, positions Webull to capitalize on improving regulatory clarity and growing investor interest in digital assets. This move enhances Webull's comprehensive offering, allowing it to compete more effectively with integrated financial platforms.
Broader Context and Implications: Expanding Footprint and Financial Strength
Webull's growth trajectory is set against the backdrop of increasing "retailification" in global financial markets. The company's business strategy has focused on empowering sophisticated retail traders, a segment that has seen considerable expansion. As of Q2 2025, customer assets reached an all-time high of $15.9 billion, representing a 64% year-over-year growth. Funded accounts grew by 9% to 4.73 million, and registered users expanded by 18% to 24.9 million.
Beyond Rosenblatt's
