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Mizuho’s Dan Dolev is ‘super excited’ about this fintech stock

Robinhood Markets Inc (NASDAQ: HOOD) has been a nightmare for its investors this year but a Mizuho analyst is convinced that it’ll be a different story for those that choose to own it down here.

Why is he bullish on Robinhood?

Dan Dolev is “super excited” for this financial technology company going into next year now that the U.S. Securities and Exchange Commission has scrapped plans of blocking payment for order flow.

Now we have a clear 2023, knowing that payment for order flow is here to stay. That risk is over, so, that’s a huge catalyst. Robinhood is a true singularity. It’s a name that comes to mind every time you think about young people trading.

He’s bullish on its recently launched retirement programme as well. Plus, this company had $47 million of adjusted EBITDA in its latest reported quarter (read more).

For the year, Robinhood shares are down nearly 50% at writing.

Robinhood shares have a 45% upside

According to the Mizuho analyst, Robinhood doesn’t have to diversify out of “young people” and compete directly against the likes of Schwab or Fidelity to drive growth.

Instead, it can simply go international while sticking to its current cohort. On CNBC’s “TechCheck”, he added:

They’re doing well on trading; November trends were strong. I met with Vlad and sentiment in the company is very strong. It’s onward and upward from here. So, I think all the moons and stars are in line for a great 2023 for Hood.

Dolev sees upside in Robinhood shares to $14. Other names he likes in the fintech space include Toast Inc and Fiserv Inc.

The post Mizuho’s Dan Dolev is ‘super excited’ about this fintech stock appeared first on Invezz.

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