Robinhood (HOOD<\/a>) stock tumbled more than 12% in early trading on Wednesday after the trading platform’s revenue came in below expectations the previous day.<\/p>\n Robinhood posted record revenue of $4.5 billion in 2025, including a record $1.28 billion in the fourth quarter. However, its fourth quarter revenue <\/a>came in lower than $1.35 billion expected by the Street.<\/p>\n Crypto revenue for the fourth quarter came in at $221 million, below estimates of $248.2 million. Options revenue also came in short of expectations, at $314 million versus estimates for $331 million.<\/p>\n “A top-line miss is not helpful at all,” Christian Bolou, an analyst at Autonomous Research, told Yahoo Finance.<\/p>\n “Net deposit growth decelerated in the fourth quarter and looks like it decelerated in January,” he added. “The stock reaction might be warranted here given high expectations and a very expensive stock.”<\/p>\n Heading in the print, the stock was down about 40% from its all-time high.<\/p>\n However, analysts were bullish on Robinhood, hoping the company’s various businesses including app offerings and prediction markets would offset a crypto winter<\/a> in which bitcoin has tumbled more than 45% from its October all-time high.<\/p>\n “It’s way more diversified than in prior periods and, just from a business perspective, better managed,” added Bolou, whose firm has a Buy rating on the stock and a $128 price target. “All of these things set up the company very well for a crypto winter.”<\/p>\n The stock has 24 Buy recommendations, four Holds, and one Sell.<\/p>\n Ines Ferre is a senior business reporter for Yahoo Finance. Follow her on X at <\/em>@ines_ferre<\/em><\/a>.<\/em><\/p>\n Click here for in-depth analysis of the latest stock market news and events moving stock prices<\/strong><\/a><\/p>\n Read the latest financial and business news from Yahoo Finance<\/strong><\/a><\/p>\n