Robinhood's Core Metrics Remain Strong Despite Q1 Underperformance

Despite Robinhood's first-quarter performance falling short of expectations, Bernstein analysts, led by Gautam Chhugani, have maintained an 'outperform' rating for HOOD with a target price of $130. According to ChainCatcher, the analysts noted that the weak performance was already reflected in the stock price. They highlighted several strong core metrics for Robinhood, including a record margin loan balance of $17 billion, marking a 93% year-over-year increase. Additionally, April saw active trading in event contracts, and the market size is projected to reach $3 billion. Robinhood Gold subscription users grew by 36% year-over-year to 4.34 million. However, current market conditions show that Robinhood's stock fell over 10% in pre-market trading.