Wall Street Cuts Robinhood Price Targets on Volume Woes

In the first week of April, five major Wall Street firms lowered their price targets on Robinhood Markets Inc. shares, citing softer trading volumes and decelerating cryptocurrency activity, even as they kept positive ratings on the stock. The adjustments came amid a 52 percent decline in the company's shares over the past six months, despite a matching 52 percent revenue increase in the trailing 12-month period.

The downward revisions began on April 1, when Wolfe Research cut its target by 30 percent, from $115 to $81. Analyst Steven Chubak pointed to weakening retail cryptocurrency trading as the key factor but maintained an Outperform rating. The next day, Needham & Company reduced its target from $100 to $90, with analyst John Todaro preserving a Buy recommendation. Todaro noted that recent volume data and lower net interest revenue indicated a more subdued environment, leading Needham to trim its 2026 and 2027 revenue forecasts due to expected drops in trading and interest income.

Compass Point followed on April 2, lowering its target by 15 percent to $108 from $127, based on weaker first-quarter performance indicators, while holding a Buy rating. Analyst Ed Engel...