Robinhood crypto trade income (Hood) of the last quarter of 2024 can be difficult to repeat, according to JPMorgan Kenneth Worthington analyst, who predicted a fall in the volumes of digital assets for the first quarter of this year.
The online negotiation platform informs the results of the first quarter after the closing of the US market on Wednesday.
The amazing 700% of the Cryptocurrency Negotiation income of the fourth quarter was behind a considerable leap in general revenues based on Hood transactions. Worthington, however, sees that impulse in the first quarter, citing a decrease in capital and cryptography markets, especially in the second half of the quarter.
Worthington and the team estimate that Robinhood users quoted around $ 52 billion in cryptography during the quarter, below $ 71 billion in the fourth quarter. Worthington attributes the fall to an “risk” environment that erased a large part of the market profits from the beginning of the year. Robinhood’s assets (AUC) are expected to fall 5% of the trimester prior to $ 183.3 billion, although still 41% year after year.
While the report highlights the strong retail purchases in early April behind the news related to the Washington rate, Worthington suggests that the activity may not be enough to lift the results of the first quarter. He warns that the softest margin and derivatives trade, also seen in the interactive competition corridors, could weigh the general performance of Robinhood.
Worthington maintained a neutral qualification in the shares and cut its price objective at $ 1 to $ 44, which suggests approximately 10% of the current price drop just below $ 49.
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