- Barclays raised its price target on Robinhood to $132 from $105, maintaining an ‘Overweight’ rating.
- Robinhood’s stock slipped over 2% in pre-market trading despite the bullish analyst move.
- A top executive disclosed a $25 million Bitcoin purchase, framing it as a symbolic alignment with the crypto community.
Robinhood (HOOD) slipped in pre-market trading on Wednesday, even as Barclays lifted its price target on the stock to $132 from $105. The company also disclosed a $25 million Bitcoin (BTC) purchase the same day.
According to reports, Barclays kept an ‘Overweight’ rating, implying almost 18% upside from Tuesday’s close of $112. The move came as part of a third-quarter earnings preview covering brokers, asset managers, and exchanges.
Consequently, the firm told clients that the rate curve looked more supportive for net interest income in 2027. However, Barclays described the trading backdrop heading into the fourth quarter as more mixed.
Meanwhile, Johann Kerbrat, the company’s senior vice president and general manager of crypto and international, reportedly disclosed the purchase of $25 million worth of Bitcoin at the Digital Asset Summit in Asia. In an exclusive interview, he framed it as a statement rather than a financial decision, saying it was about “aligning our company and our vision with the crypto community.”
The sum was small against the company’s total value of about $100.7 billion, making the holding roughly 0.025% of its market value. Bitcoin’s price was down over 3% over the past 24 hours, with retail sentiment around the cryptocurrency shifting to ‘bearish’.
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