Barclays cuts Robinhood target, downgrades Coinbase ahead of Q1

Barclays downgraded Coinbase to 'Underweight' with a $140 target and cut Robinhood's price target to $89, citing weaker trading volumes and lower revenue expectations ahead of Q1 earnings. The firm maintained an 'Overweight' rating on Robinhood. Meanwhile, Robinhood stock rose 6% on broader market gains, and Keefe Bruyette initiated coverage with a 'Market Perform' rating.