Needham Trims Robinhood (HOOD) PT to $135 on Sluggish Crypto Trading Outlook

Group 1: Price Target Adjustments - Needham lowered its price target for Robinhood to $135 from $145, maintaining a Buy rating, due to a projected prolonged slump in cryptocurrency trading volume [1] - Morgan Stanley raised its price target for Robinhood to $147 from $146, keeping an Equal Weight rating, citing strong transaction levels in Q4 [2] - Barclays increased its price target for Robinhood to $171 from $168, maintaining an Overweight rating, based on a favorable outlook for wealth brokers and alternative asset managers [3] Group 2: Market Outlook - Needham anticipates that retail participation in cryptocurrency trading is unlikely to recover until market momentum improves significantly [1] - Morgan Stanley's analyst increased Q4 EPS estimates by an average of 5%, aligning projections with broader market consensus [2] - Barclays remains cautious about exchanges and traditional asset managers, indicating a more unpredictable outlook for those sectors [3] Group 3: Company Overview - Robinhood Markets Inc. operates a financial services platform in the US, allowing users to invest in stocks, ETFs, American depository receipts, options, gold, and cryptocurrencies [4]