Coinbase Stock Has 25% Upside, According to 1 Wall Street Analyst
Analysts at JMP Securities firmed up their view of cryptocurrency exchange (NASDAQ: COIN) on Tuesday, noting now there is less room for error for the company. Nevertheless, JMP Securities maintained its "outperform" rating and boosted its price target to $320. That new price target represents potential upside of 25% from the stock's Apr. 8 closing price.
Shares of Coinbase have surged this year as Bitcoin has rallied nearly 70% so far in 2024.
Coinbase has also made legitimate progress in reducing its costs, a necessity as cryptocurrency trading volumes dried up during the last crash. The company has also expanded its sources of revenue beyond transaction fees.
Source Fool.com
Coinbase Global Inc. Stock
Our community is currently high on Coinbase Global Inc. with 46 Buy predictions and 22 Sell predictions.
However, we have a potential of -5.37% for Coinbase Global Inc. as the target price of 215 € is below the current price of 227.2 €.