Goldman Sachs Cuts HOOD Price Target Amid Crypto Market Turmoil

HOOD stock has been experiencing a downtrend since October, with a decline of over 32% year-to-date (YTD). Despite this, Goldman Sachs analyst James Yaro maintained a 'buy' rating on Robinhood while reducing its price target from $130 to $111.

According to the company's January metrics, Robinhood recorded 27.2 million funded customers and total platform assets of $324 billion, representing a 1% increase from December and a 59% year-over-year (YoY) surge.