Robinhood price target lowered to $130 from $155 at Truist

Truist lowered the firm’s price target on Robinhood (HOOD) to $130 from $155 and keeps a Buy rating on the shares. Robinhood shares have been in freefall this week alongside plummeting crypto prices, and the pain has compounded Thursday, the analyst tells investors in a research note. The firm continues to think the price action is overdone, as crypto is 19% of revenue and 12% of growth for this year in consensus and an even smaller contributor on the firm’s estimates. Moreover, given this relatively limited exposure, Robinhood can still put up strong revenue growth and EPS growth even with much weaker crypto prices and volume, the analyst adds.