Wells Fargo Cuts Robinhood Price Target to $100 From $120

Wells Fargo cut its price target for Robinhood to $100 from $120 on Oct. 28, a $20 reduction in the bank's benchmark for the trading platform.

Robinhood's third-quarter revenue totaled $1.42 billion, while crypto revenue fell 55% year over year.

Wells Fargo had set its Robinhood target at $120 in mid-October, when analyst targets for the stock ranged from $120 to $134.