Goldman Sachs Group Inc analysts downgraded Robinhood Markets Inc (NASDAQ:HOOD) to Sell with a price target of $13, down from $15 (7.7% upside) less than a year after leading its initial public offering.
William Nance saw the softening retail engagement levels, particularly among the low-end consumer, continued weakness in account growth, and a narrow path to near-term profitability, likely limiting the stock's outperformance over the next twelve months.
