Webull Corp (BULL) Stock Forecast & Price Target

Webull is viewed positively because the June 4th PDT rule change appears to be a structural catalyst that is lifting trading volumes, revenue capture, and margin lending in a business already tailored to active traders with sub-$5K average account sizes. Its 2Q26 results showed the strength of that model, with revenue of $198.8M, trading revenue of $148M, and adjusted operating profit of $62.6M all beating expectations, while customer assets rose 62% Y/Y to $27.3B and options activity surged 88% Y/Y. The outlook is further supported by expanding product breadth, international upside, and a valuation that still looks inexpensive versus Robinhood, especially given Webull’s faster growth profile and meaningful operating leverage.

Webull is viewed negatively because its earnings remain heavily tied to trading activity, volatility, and interest rates, leaving revenue vulnerable if retail engagement or market conditions cool. Although 2Q26 DARTs rose 62% Y/Y to 1.64M and adjusted operating margin reached 31.5%, customer asset growth was increasingly market-driven, with only $1.6B of the $4.5B sequential increase in assets to $28.5B coming from net deposits and deposits down 24% Q/Q. The company also faces elevated execution and governance risk as a digital-first platform exposed to outages or cyberattacks, while Anquan Wang’s >80% voting control and Chinese ownership limit minority influence and add political uncertainty.