** Robinhood Markets' HOOD.O stock is down 6.6% at $41.11 on Fri after Needham analysts cut their price target citing downward revision in crypto trading volumes from retail customers partly offset by an increase in revenue from its prediction markets offering
** HOOD is on track for the fourth straight session of losses and on track for the consecutive month of loses in March. It is up ~11% YTD with today's move
** The rollout of HOOD's prediction markets offering since Oct. 2024 will likely add about $100 mln in revenue in 2025 but that is offset by estimated lower crypto trading, said Needham analysts led by John Todaro
** "As the crypto market has cooled, retail customers experience a "flushing out" effect. We see macro headwinds in 1H'25 (i.e. tariffs, US fiscal austerity) impacting HOOD's crypto volumes more than equities/options, which we brought modestly lower," Todaro says
** Needham cuts PT to $62 from $70 but retained its "buy" rating
** Among 21 analysts that cover HOOD, avg rating is "BUY" and median PT is $63.50
** Earlier this week, HOOD announced it will roll out wealth management and private banking services on its platform
(Reporting by Chibuike Oguh in New York)
((Chibuike.Oguh@thomsonreuters.com; +332-219-1834; Reuters Messaging: chibuike.oguh.thomsonreuters.com@reuters.net))
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