Webull Corp (BULL) Stock Forecast & Price Target

Webull Corp demonstrated strong financial performance in the third quarter of 2025, with total revenues increasing 55% year-over-year to $156.9 million, primarily fueled by a 71% year-over-year surge in equity notional volume, reaching $204 billion. The revenue growth was largely attributable to higher revenue per trade, which rose from 6.8 cents to 7.6 cents, alongside a 64% year-over-year increase in trading-related revenues supported by robust client engagement. Additionally, customer assets more than doubled to $21.2 billion from $11.5 billion a year prior, bolstered by the acquisition of Webull Pay, reflecting the platform's ability to attract and retain a growing investor base.

Webull Corp has experienced significant stock underperformance, with shares declining 28% over the past three months, contrasting sharply with a 3% gain in the S&P. The recent drop in crypto trading volumes has prompted a 30% reduction in transaction revenue estimates for the company, indicating a potential weakness in revenue streams. Furthermore, a lack of investment in growth initiatives has led to a declining user base, which, combined with reduced retail trading activity, lower volatility, and falling rates, poses a significant threat to the company's earnings prospects.