Piper Sandler analyst Patrick Moley said the volatile trading environment drives third-quarter outperformance for exchange and trading companies, leading to a strong backdrop for retail brokers. Moley maintained Robinhood Markets Inc HOOD with an Overweight rating and a $27 price target. Despite Net Interest Income headwinds from the lower rate environment, Moley noted several distinctive near-term opportunities for Robinhood Markets that should help drive continued earnings growth. On October 16, Robinhood Markets is hosting an active trader summit in Miami, Florida. The analyst expects the company to introduce its new web-based trading platform and reveal a launch date for the roll-out of index options and futures trading to its 24 million customers.