Robinhood $HOOD ( ▼ 10.01% ) is still under pressure after its latest earnings report, and analysts are not exactly on the same page about what comes next. The brokerage posted results that beat on earnings but missed on revenue, with a sharp drop in crypto trading weighing on performance.
Here is how different firms are reading the numbers.
Short-Term Headwinds Front and Center
Barclays flagged weaker than expected transaction revenue, pointing to lower take rates in options and crypto. The firm also noted softer securities lending, which dragged on net interest income.
Zacks took an even more cautious tone, highlighting that crypto trading revenue fell 38% year over year in Q4. With January app data showing another steep drop in crypto volumes, the firm warned that this may reflect a deeper structural slowdown rather than a temporary dip.
Some Bright Spots in the Mix
Mizuho called the quarter mixed but noted strong performance in prediction markets. That segment has been a growing part of Robinhood’s trading ecosystem and helped offset some of the crypto weakness.
Citizens JMP also saw positives, pointing to better expense control and a broader mix of revenue streams. The firm believes the company’s product roadmap could help drive stronger growth again in 2026.
Long-Term Bulls Still Holding On
Piper Sandler struck a more optimistic note, saying its long-term thesis on Robinhood $HOOD remains intact despite near-term volatility. The firm continues to see Robinhood as one of the best ways to play long-term growth in retail trading and a leading contender to become a financial super app.
For now, the debate around Robinhood centers on whether diversification into new products can make up for a cooling crypto business. The answer to that question will likely shape where the stock heads next.