Robinhood slumps; Barclays slashes PT on slowing crypto revs

Shares of retail trading platform Robinhood HOOD.O down 11.2% premarket to $30.78, a five-mth low, amid global market meltdown

U.S. futures sink on Mon and investors dash to safe havens as President Donald Trump's tariffs sow fears of trade wars, recession

Barclays chops PT from $76 to $45, below Wall Street median of $62, per LSEG data

Brokerage sticks with 'overweight' rating, but expects transaction revs to fall 19% q/q, driven mostly by crypto revs

Crypto volumes slowed "meaningfully" in Q1 vs Q4 (-34% q/q), and transaction revs from crypto could come in 18% below consensus, Barclays wrote in research note to clients

New PT based on 21x expected earnings, down from 32x, reflecting broader decrease in market multiples and economic uncertainty, the analysts say

HOOD shares have fallen 19% over the prior two sessions, erasing over $7 bln of market cap, after Trump's sweeping tariffs plan sparked fears of slowdown in consumer spending

Meanwhile, bitcoin BTC=, world's largest cryptocurrency, down ~2% at $77,120 on Mon, after hitting five-mth low earlier, and off ~8% from close on Fri

Through Fri, HOOD shares down ~7% YTD but up nearly 90% over the past 12 months

14 of 21 brokerages covering HOOD rate stock "strong buy" or "buy", rest "hold"