Robinhood shares fell more than 10% in pre-market trading after missing key revenue metrics, including account growth and new net assets, indicating a seasonal slowdown.
JPMorgan commented that the stock decline was unsurprising given Robinhood’s significant outperformance this year, citing a 10 billion net deposit figure that fell below expectations.
Despite initial stock weakness, broker JMP maintained a bullish outlook on Robinhood, adjusting its price target upwards to $33, reflecting confidence in its long-term growth.
While Citi maintained a neutral stance with a $23 price target, they warned of potential pressures on the stock due to its recent performance and a top-line miss.
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