Robinhood's first-quarter earnings missed expectations, yet Bernstein analyst Gautam Chhugani's team has maintained an Outperform rating and a $130 price target for the stock. Despite the earnings miss, analysts noted that the weak performance was already reflected in the stock price. Key metrics remained robust, with margin loan balances hitting a record $17 billion, a 93% increase year-over-year. Additionally, Robinhood Gold subscribers rose 36% to 4.34 million, and event contracts trading continued actively in April, with the market size projected to reach $3 billion. However, Robinhood shares are down over 10% in pre-market trading.