Robinhood Markets (NASDAQ:HOOD) shares are trading lower on Wednesday after the company reported fourth-quarter financial results after market close on Tuesday.
Analysts see the company’s product expansion as a positive, but guidance and spending remain concerns.
• Robinhood Markets stock is taking a hit today. What’s behind HOOD decline?
The Robinhood Analysts
Cantor Fitzgerald analyst Ramsey El-Assal maintained an Overweight rating on Robinhood with a price target of $310.
Needham analyst John Todaro reiterated a Buy rating, while lowering the price target from $135 to $100.
Cantor Fitzgerald on HOOD Stock
Robinhood reported mixed results with revenue missing analyst estimates. El-Assal said this is due to “market volatility and natural cyclicality” and not due to weakness in the core business.
“While market volatility is likely to persist in the near term, we believe HOOD retains several levers (e.g., prediction markets, tokenization, international markets, retirement) that position the company to continue driving growth in less favorable market conditions,” El-Assal said.
On prediction markets, the analyst says the offering is helping Robinhood’s transaction-based …