Webull Corp (BULL) Stock Forecast & Price Target

Webull Corp reported a robust 55% year-over-year growth in total revenues for the third quarter of 2025, reaching $156.9 million, largely driven by an impressive increase in trading activity with equity notional volume rising 71% year-over-year to $204 billion. The company's revenue per trade also improved, increasing from 6.8 cents to 7.6 cents, reflecting enhanced equity spreads and strong performance in options trading, which contributed to a 64% year-over-year growth in trading-related revenues. Additionally, Webull's customer assets grew significantly to $21.2 billion, compared to $11.5 billion a year prior, bolstered by the acquisition of Webull Pay, which aligns with the company's strategy to build an efficient and user-friendly investment platform for informed investors.

Webull Corp has experienced a decline in its user base due to minimal investment in growth initiatives, raising concerns about its future performance. The firm is increasingly vulnerable to adverse market conditions, as its optimistic projections heavily depend on sustained strong retail trading activity, which could be jeopardized by any slowdown. Additionally, factors such as reduced retail activity, diminished market volatility, and falling interest rates are likely to exert downward pressure on the company's earnings.