Robinhood Delivers Big Earnings Beat Driven by Booming Crypto Trading: Analysts
Summary
Robinhood reported strong Q1 earnings with a 40% revenue increase driven by surging crypto trading. KBW raised price target to $21.50, JMP to $30. Crypto transaction revenue tripled, new deposits hit $11.2B, and 500,000 new accounts were added. Record $5B deposits in April. Analysts expect continued customer traction in crypto trading despite SEC action.
