Goldman Sachs, Barclays cut Robinhood price targets despite earnings beat

Beating Wall Street estimates is officially meaningless. Despite crushing revenue and EPS targets, Goldman Sachs and Barclays just slashed their price targets as Robinhood's crypto revenue plummeted 38%. Even a 32% jump in total revenue couldn't stop the stock from sliding 23% this year. If a massive earnings beat results in a downgrade, it’s clear the market has lost faith in the platform's growth. Is Robinhood’s business model fundamentally broken? What’s your take?
This summary was generated by AI