Barclays raised the firm’s price target on Robinhood to $18 from $16 and keeps an Underweight rating on the shares post the Q1 report. The company reported an adjusted EBITDA beat driven by strong outperformance in transaction revenues, with crypto meaningfully above consensus, although they pulled back a bit in April, the analyst tells investors in a research note. The firm says Robinhood’s net deposits accelerated into April, and trading volumes also remained similar to Q1 levels.
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