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Robinhood US stocks pre-market drops over 10%, Bernstein still maintains a $130 target price
Mars Finance News, according to Theblock, despite Robinhood’s first-quarter performance falling short of expectations, Bernstein analyst Gautam Chhugani’s team still maintains a buy rating on HOOD with a target price of $130.
The analysts pointed out that the weak performance in the first quarter has already been reflected in the stock price.
They focus on several core indicators of Robinhood remaining strong: margin loan balances reaching a record $17 billion (up 93% year-over-year), active trading of event contracts in April, with the predicted market size approaching $3 billion, and Robinhood Gold subscription users increasing by 36% year-over-year to 4.34 million.
However, current market conditions show that Robinhood (HOOD) is down over 10% in pre-market trading.