Robinhood's pre-market trading in US stocks fell over 10%, Bernstein still maintains a target price of $130
According to Theblock, despite Robinhood's first-quarter performance falling short of expectations, Bernstein analyst Gautam Chhugani's team maintains an outperform rating on HOOD with a target price of $130.
Analysts pointed out that the weak performance in the first quarter has already been reflected in the stock price. They highlighted that several core metrics of Robinhood remain strong: the margin loan balance reached a record $17 billion (up 93% year-over-year), event contract trading was active in April, predicting the market size is moving towards $3 billion, and Robinhood Gold subscription users increased by 36% year-over-year to 4.34 million.
However, the current market shows that Robinhood (HOOD) is down over 10% in pre-market trading.
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