Robinhood stock falls 5.7% as Goldman lifts price target to $137 and crypto chain expands

Robinhood Markets shares dropped 5.7% on Friday, touching a low of $96.59 and closing around $99.96 after a volume of 27.4 million shares, down 8% from the average session. The decline came amid a broader Nasdaq‑100 sell‑off, a dip in cryptocurrency prices and reports that the firm sold $400 million of credit‑card asset‑backed bonds.

Despite the slide, analysts remain upbeat. Goldman Sachs raised its price target to $137 from $121 and kept a Buy rating, while KeyCorp and Deutsche Bank issued overweight and buy recommendations with targets of $100 and $113 respectively. Earlier in the month, the stock had risen nearly 20% on expectations of higher revenue and growing user activity.

Separately, Robinhood’s newly launched Robinhood Chain saw its total value locked climb to $212 million, DEX volume rise to $3.6 billion and stablecoin balances exceed $355 million, indicating rapid adoption of the platform’s crypto services.