BUZZ-Robinhood shares fall as BofA flags softer trading activity
Reuters04-03 00:10
BUZZ-<a href="https://laohu8.com/S/HOOD">Robinhood</a> shares fall as BofA flags softer trading activity
** Shares of retail trading platform Robinhood HOOD.O fall 1.68% to $68.88
** BofA cuts price target on HOOD to $119 from $122, still a 67.7% upside to the stock's last close
** Brokerage cites lower trading activity, lower securities lending revenues and a higher tax rate
** Adds, the q/q decline in transaction revenues is attributable to lower crypto take rates as well as lower equity and options volumes
** 23 of 27 analysts rate stock "strong buy" or "buy" and three "hold" and one "sell"; their median PT is $120 - data compiled by LSEG
** Including session's move, stock down 39%
(Reporting by Pragyan Kalita in Bengaluru)
((Pragyan.Kalita@thomsonreuters.com;))
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