Robinhood price target lowered to $105 from $110 at Mizuho

Mizuho lowered the firm’s price target on Robinhood (HOOD) to $105 from $110 and keeps an Outperform rating on the shares. The firm modestly lowered Robinhood’s forward estimates post the earnings report. The backdrop for brokerages has “been more muted” due to geopolitical and macro uncertainty, the analyst tells investors in a research note. However, Mizuho believes Robinhood’s “story remains strong” as banking crossed $1.5B in deposits from nearly 100,000 funded customers. The firm stays constructive on the shares.