Bernstein calls HOOD their best idea of 2025. I agree with the DD here, but they are late. I have been calling this a generational company since the 20s. The market always gave you clues with that relative strength vs other crypto names like coin and MSTR during BTC's pullback.

I reamin bullish. I think it can regain ATHs in the 80s within this year or next. Let's see. 

"Crypto-powered financial ecosystem...HOOD crushed Q4 earnings with its first $1Bn revenue quarter, led by 487% seq. QoQ growth in crypto revenues (733% YoY)." 
 
"Q4 was the election quarter and the big crypto inflection was expected. The market consensus here (which has scrambled post election to ramp up estimates) is still missing the business model shifts and the exponential revenue pool expansion." 
 
"HOOD is building a global financial ecosystem across asset-classes - equities, crypto, tokenized securities, stablecoins, prediction markets. And leveraging blockchain rails to drive operating efficiency. We are further moving up our 2025E and 2026E estimates, led by crypto growth strategy and upgrading our price target to $105. With HOOD now decisively turning around to positive EPS, we change our valuation approach to pure earnings based multiple (discarding sales multiple)."