Robinhood Markets Inc (NASDAQ:HOOD) shares are trading lower on Thursday. This downward move follows a key analyst update and broader weakness in the technology sector.
Needham Trims Price Target
Needham analyst John Todaro maintained a Buy rating on Robinhood on Thursday. However, Todaro lowered the price target from $100 to $90.
The adjustment comes as the platform navigates shifting trading volumes. Despite the trim, the new target still suggests an upside from current levels.
Broader Market Pressure
The decline in HOOD coincides with a wider market retreat. The Nasdaq Composite fell 0.98% Thursday, while the S&P 500 shed 0.73%. High-growth fintech names often see amplified volatility during such sessions.
Mixed March Trading Metrics
The company on Monday released preliminary March metrics. Equity …
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