Robinhood price target lowered to $124 from $159 at Barclays

Barclays lowered the firm’s price target on Robinhood (HOOD) to $124 from $159 and keeps an Overweight rating on the shares following the Q4 report. The company’s missed on revenue but remains focused on its “ambitious” long-term goals, the analyst tells investors in a research note. The firm expects Robinhood’s recent slowdown in net new asset growth to weigh on the shares today. The stock in morning trading is down 12%, or $10.50, to $75.10. Barclays attributes the softer than expected Q4 to lower take rates in options and crypto impacting transaction revenues.