Every Analyst Covering Webull Says Buy. We Disagree.
Wall Street analysts are unanimous on Webull, and unanimously bullish. Here is why our model lands in a completely different place and what would have to happen for us to change our minds.

Webull Corporation operates as a digital investment platform. The company offers various products and services, including trading, wealth management product distribution, market ...
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Est. EPS $0.07 · Revenue $210.50M · 2 analysts
Est. EPS $0.08 · Revenue $218.98M · 2 analysts
Est. EPS $0.21 · Revenue $786.06M · 2 analysts
Est. EPS $0.06 · Revenue $220.18M · 1 analysts
EPS $0.04 · Revenue $198.83M
EPS $-0.04 · Revenue $159.93M
EPS $0.06 · Revenue $571.00M
EPS $0.07 · Revenue $156.94M
EPS $-1.20 · Revenue $131.49M
| Metric | Latest | YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength. | QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes. |
|---|---|---|---|
| RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three). | $571.0M | +46.3% | +24.3% |
| Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day. | $24.8M | +209.2% | +212.2% |
| Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials. | +77.5% | -2.8% | +2.2% |
| Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on). | +10.2% | +378.4% | +1637.1% |
| Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales. | +4.3% | +174.6% | +190.2% |
| Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock. | $561.5M | +207.2% | — |
| FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine. | +98.3% | +109.9% | — |
| Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe. | 7.6% | +1217.0% | +0.4% |
| Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking. | 1.33x | -0.7% | +3687.0% |
| Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground. | $3.9B | +87.6% | +10.8% |
| Metric | Annual (A vs E) | Annual Surprise | Quarter (A vs E) | Quarter Surprise |
|---|---|---|---|---|
| EPS Surprise | 0.06 vs 0.20 | -69.5% | 0.04 vs 0.07 | -31.8% |
| Revenue Surprise | $571.0M vs $562.4M | +1.5% | $198.8M vs $210.5M | -5.5% |
| Date | Executive | Title | Security | Side | Shares | Price |
|---|---|---|---|---|---|---|
| Aug 25, 2026 | Denier Anthony Michael | director, officer: President | Class A Ordinary Shares | D | 53,848 | $8.83 |
| Aug 21, 2026 | James Benjamin Worthy | director, officer: General Counsel | Class A Ordinary Shares | D | 50,273 | $9.02 |
| Jun 9, 2026 | Bishop Walter A. | director | Restricted Share Units | A | 29,584 | — |
| Jun 9, 2026 | Bishop Walter A. | director | Class A Ordinary Shares | A | 12,500 | — |
| Jun 9, 2026 | Bishop Walter A. | director | Restricted Share Units | D | 12,500 | — |
Operator: Good day, and welcome to the Webull Corporation Second Quarter 2026 Earnings Conference Call. [Operator Instructions] Please note, this event is being recorded. I would now like to turn the conference over to Carlos Questell, Head of Investor Relations for Webull. Carlos Questell: Good morning, good afternoon, and good evening, everyone. Welcome to Webull's Second Quarter 2026 Conference Call. Earlier today, we issued a press release detailing our second quarter financial results. A copy of the release can be found on our IR website at webullcorp.com under the Investor Relations tab. Please note that this call is being recorded and will be available for replay via our IR website. This call will include forward-looking statements about the company's performance and business outlook. These statements are based on how we see things today and contain elements of uncertainty. For information concerning the factors that can cause actual results to differ materially, please refer to the cautionary statement and risk factors contained in our filings with the Securities and Exchange Commission and press release, both of which can be accessed via our website. Today's presentation will include a discussion on adjusted operating expenses, adjusted operating profit and adjusted net income, all non-GAAP financial measures. Reconciliation of these non-GAAP financial measures to their most directly comparable GAAP measures are included in the press release that we issued today. It is important to note that although we believe that these non-GAAP measures provide useful information about our operating results, this should not be considered in isolation or construed as an alternative to their directly comparative GAAP measures. Furthermore, other companies may calculate similarly titled measures differently, limiting their usefulness as comparative measures to our data. We encourage our investors and others to review our financial information in its entirety and not rely on a single financial measure. With me today is our Group President and U.S. CEO, Anthony Denier; and our Group CFO, H.C. Wang. We will begin with prepared remarks and then take questions at the end. With that, I'd like to now turn it over to Anthony. Anthony Michael Denier: Thank you, Carlos, and hello, everyone. Thanks for joining us today. Before I walk through our second quarter results, I want to share an update on the SEC's elimination of the Pattern Day Trader rule or PDT rule that became effective on June 4. Last quarter, we highlighted our expectation that the elimination of the PDT rule would be a strong tailwind for our active traders and noted that our engineering team was busy ensuring our systems were ready for the change. Today, I am pleased to share that we successfully navigated the changes in the market resulting from the removal of the PDT rule. From the moment the rule change took effect, Webull's advanced technology platform enabled every qualified customer to place …
| Name | Title | Gender | Year Born | Status |
|---|---|---|---|---|
H. C. Wang | Chief Financial Officer & Director | Male | 1983 | Active |
James Chao | Head of Internal Controls | Male | — | Active |
Anthony Michael Denier | President & Director | Male | 1978 | Active |
Benjamin W. James | General Counsel & Director | Male | 1981 | Active |
Anquan Wang | Founder, Chief Executive Officer & Chairman | Male | 1980 | Active |
Arianne Adams | Chief Strategy Officer | Female | 1978 | Active |
Wall Street analysts are unanimous on Webull, and unanimously bullish. Here is why our model lands in a completely different place and what would have to happen for us to change our minds.

Shares of Webull Corp. (NASDAQ:BULL) are trading higher Thursday afternoon as strong second-quarter earnings momentum continues to fuel investor demand.

Webull Corporation (NASDAQ:BULL | BULL Price Prediction) stock is up 8% to $9.46 Thursday, extending a multi-week retail-trading bid in one narrow corner of the brokerage tape while the rest of the group barely moves.

Webull Corporation (BULL) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.

The average of price targets set by Wall Street analysts indicates a potential upside of 63.2% in Webull Corporation (BULL). While the effectiveness of this highly sought-after metric is questionable, the positive trend in earnings estimate revisions might translate into an upside in the stock.
