Apr. 2 at 6:45 PM
$HYPD Siebert BUY
$8.X
HYPD 4Q25: Product Velocity + Hyperliquid
Outperformance Set Up HYPD Re-Rating
Mgmt highlighted HIP-4 (prediction markets/options-like products) as a potentially larger opportunity than HIP-3, implying upside to our 2H26–27 estimates; we see HYPD as well positioned to capture outsized early share.
The company remains near full deployment of its HYPE treasury via HAUS agreements, with incremental HYPE/share growth driven by scaling existing and adding new partnerships alongside capital base expansion.
Mgmt remains focused on HYPE/share growth via DeFi monetization and institutional onboarding which benefits Hyperliquid volumes, buybacks, and token price, and HYPD’s treasury value.
We maintain our 2026–27E and
$8.X PT. Our 2026E adj. gross profit estimate of
$14M exceeds mgmt’s newly issued
$4-6M guidance as a result of higher ecosystem rewards and a higher HYPE price. Year to date, HYPE’s token price is up +50% vs. Layer 1 Blockchain competitors.
