Truist cuts Robinhood target ‘frustrating’ earnings report

Truist lowered the firm’s price target on Robinhood (HOOD) to $120 from $130 and keeps a Buy rating on the shares. The firm views the company’s Q4 earnings report as “frustrating.” Robinhood posted few financial positives outside of the prediction markets, the analyst tells investors in a research note. Truist says that in addition to crypto weakness, important metrics for Robinhood like user growth and net deposits were light in December. January was” better but not by much,” adds the firm. Truist is still positive on the company’s longer-term potential but says the shares could see short-term volatility.