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Stock impact report

Cantor Cuts Robinhood (HOOD) Price Target, Keeps Overweight Rating [Yahoo! Finance]

Robinhood Markets, Inc. - Class A (HOOD) 
Company Research Source: Yahoo! Finance
price target on Robinhood Markets, Inc. (NASDAQ:HOOD) from $155 to $152 but kept an Overweight rating on the stock. This update comes after the company announced that it has entered into agreements to acquire PT Buana Capital Sekuritas, an Indonesian brokerage, and PT Pedagang Aset Kripto, a licensed Indonesian digital financial asset trader. These agreements will allow Robinhood Markets, Inc. (NASDAQ:HOOD) to enter into Indonesia, a major crypto hub in Southeast Asia and also accelerate the company's global expansion. Indonesia is one of the world's leading adopters of cryptocurrency. The country also has supportive regulations and a young, tech-savvy population. This makes Indonesia an attractive market for US companies like Robinhood Markets, Inc. (NASDAQ:HOOD) that are looking to expand in Asia. The country has more than 19 million capital markets investors and 17 million crypto investors, making it a compelling market for equities and crypto trading. Cantor Fitzgerald sees Show less Read more
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