Robinhood price target lowered to $90 from $102 at Argus

Argus lowered the firm’s price target on Robinhood (HOOD) to $90 from $102 and keeps a Buy rating on the shares. The company’s Q1 results can feature strong transaction revenue gains in equities but a decline in cryptocurrencies, the analyst tells investors in a research note. The firm adds that new product development continued at a rapid pace in Q1, highlighted by the introduction of trust/custodial accounts as part of a new family investing experience.