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Robinhood's Gold Membership: Bernstein Slashes Price Target to $105

In a recent note, investment firm Bernstein has reduced its price target for Robinhood, the popular online brokerage firm, from $150 to $105. The move comes as Robinhood's Gold membership program continues to gain traction, with the company's revenue growing steadily.

According to Bernstein, Robinhood's Gold membership, which offers users additional features such as real-time market data and commission-free trading, has been a key driver of the company's growth. The firm estimates that Gold membership has contributed significantly to Robinhood's revenue, with the program now accounting for a substantial portion of the company's overall revenue.

Bernstein's reduced price target for Robinhood reflects the firm's belief that the company's growth is being driven by its Gold membership program, rather than its core brokerage business. The firm notes that while Robinhood's core brokerage business has been growing steadily, it is the Gold membership program that is driving the company's revenue growth.

Robinhood's Gold membership program has been a key focus for the company in recent months, with the firm aggressively marketing the program to its users. The program has been popular among Robinhood's users, with many opting for the premium service in order to access additional features and benefits.

In a statement, Robinhood CEO Vlad Tenev said that the company is "excited" about the growth of its Gold membership program and believes that it will continue to be a key driver of the company's revenue growth in the future. Tenev noted that the program has been a key focus for the company in recent months, with the firm investing heavily in marketing and development to support the program's growth.

Overall, Bernstein's reduced price target for Robinhood reflects the firm's belief that the company's Gold membership program is a key driver of its growth and that the program will continue to be a key focus for the company in the future.