Coinbase Analysts Remain Polarized Following Poor Earnings, Note Possible Future Political Tailwinds
Posted On October 31, 2024
Shares of Coinbase Global Inc (NASDAQ:COIN) sunk deep into the red on Thursday following poor third-quarter results. The cryptocurrency exchange company remains polarizing among analysts.
The Coinbase Analysts: The following analysts published notes following Coinbase’s revenue miss.
- Goldman Sachs analyst Will Nance reiterated a Neutral rating, maintaining a $183 price target.
- Needman analyst John Todaro reiterated a Buy rating, raising its price target from $260 to $290.
- H.C. Wainwright analyst Mike Colonnese reiterated a Buy rating, lowering its price target from $295 to $255.
Goldman Sachs Takeaways: Nance believes that Coinbase’s downward price action was cushioned by normalized expectations of revenue swings. The analyst noted his takeaways of management commentary.
“On the strategic front, we thought the company sounded more upbeat about the regulatory environment and notably stated they feel that the crypto ecosystem is well …
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