Truist Lowers Robinhood (HOOD) PT to $130 Citing Falling Crypto Prices, Market Overreaction
Robinhood Markets Inc. (NASDAQ:HOOD) is one of the most profitable new stocks to buy right now. On February 6, Truist lowered its price target for Robinhood from $155 to $130 and maintained a Buy rating. The adjustment was made as the stock experienced significant pressure alongside falling cryptocurrency prices; however, the firm believes the market reaction is excessive.
The firm pointed out that crypto accounts for only 19% of consensus revenue and 12% of growth, suggesting that Robinhood’s limited exposure allows it to maintain strong revenue and EPS growth even in a weakened crypto environment.
Earlier on January 8, Barclays maintained an Overweight rating on Robinhood Markets Inc. (NASDAQ:HOOD) while lowering the price…
