BUZZ - Robinhood shares decline after third-quarter profit falls short of expectations

October 28 -

** Trading platform Robinhood Markets HOOD.O shares dropped 8.56% in pre-market trading to $86.47

** The company's third-quarter profit missed Wall Street expectations (link) as a slowdown in cryptocurrency trading and increased costs failed to offset strong performance in options and prediction markets

** The company’s cryptocurrency trading revenue fell 55% year-on-year to $120 million

** Third-quarter earnings per share were $0.51, below analysts' expectations of $0.55 per share

** Out of 33 brokerages, 27 rate the stock as “Buy” or higher, 5 rate it as “Hold,” and 1 rates it as “Sell” or lower; the median target price is $134.50 — according to data compiled by LSEG

** As of yesterday’s close, the stock was down 16.3% year-to-date

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