Robinhood's Q1 earnings report is expected to show a decline in crypto trading revenue, following a record 700% surge in Q4 2024. JPMorgan analyst Ken Worthington predicts that trading activity will slow, with estimates suggesting a drop in crypto trading volumes from $71 billion in the last quarter to about $52 billion. This decline is attributed to a 'risk-off' environment that has reduced market gains. Worthington has adjusted his year-end price target for Robinhood shares to $44, down from $45, maintaining a neutral rating. He notes that despite strong retail buying early in April, it may not be sufficient to boost overall performance, particularly as demand for margin and derivatives trading appears softer across the sector, including competitors like Interactive Brokers. Additionally, Robinhood's assets under custody are projected to fall by 5% to $183.3 billion, though still up 41% year-over-year.

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