Cantor Fitzgerald lowered the firm’s price target on Robinhood (HOOD) to $60 from $62 and keeps an Overweight rating on the shares. Robinhood’s Q1 was strong, with net deposits increasing by $18B int he quarter, with 42.2% of the quarterly deposits coming in March, the analyst tells investors in a research note. After a solid quarter of momentum in Robinhood’s new products, the firm says its thesis as Robinhood becoming the next financial super app remains unchanged.
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