Trading at 26 times estimated 2027 earnings and a trailing price/tangible book ratio of 7.74X versus the 2.95X industry average, Robinhood’s valuation reflects expectations for sustained growth and profitability improvements. Funded customer count reached 27.4 million in February, marking a 7% increase year-on-year and reinforcing the company’s ability to attract next-generation investors. Non-transactional revenues now constitute 41% of total, up from 23% in 2021, as rapid product expansion into tokenization, custody and prediction markets broadens the company’s revenue streams. Jefferies began coverage of Robinhood Markets with a Buy rating and $88 price target, highlighting the firm’s transition toward a comprehensive financial services super app to leverage rising global retail participation.