Bernstein keeps $130 Robinhood target as Q1 miss extends post-earnings losses
Crypto Briefing
Bernstein maintains a $130 price target for Robinhood despite a Q1 miss, citing market stabilization and new product potential.Summary
Bernstein has maintained its $130 price target for Robinhood (HOOD) shares, even as the company's stock extended post-earnings losses after missing first-quarter revenue and earnings targets. Despite a significant 47% drop in crypto revenue, attributed to the broader crypto market downturn, Bernstein analysts believe conditions are stabilizing. They point to potential growth drivers such as new products like prediction markets and continued investment in AI and long-term financial services. Robinhood's overall revenue saw year-on-year growth, supported by strong transaction activity and expansion in banking and credit card segments, with future growth anticipated from both crypto recovery and new business ventures.
(Source：Crypto Briefing)