Coinbase posts soaring profit on jump in crypto prices
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Coinbase Global Inc. (COIN) PT Raised to $315 at H.C. Wainwright
May 3, 2024 6:01 AM EDTH.C. Wainwright analyst Mike Colonnese raised the price target on Coinbase Global Inc. (NASDAQ: COIN) to $315.00 (from $300.00) while maintaining a Buy rating.
The analyst comments "As expected, Coinbase delivered another strong revenue and earnings beat after the close yesterday (5/2). Total trading volumes more than doubled q/q in 1Q24 while retail and institutional take rates both ticked higher, which drove over $1B in total transaction revenues for the first time since 1Q22, while subscription and services revenues also surprised to the upside, resulting in a whopping 20% revenue beat.... More
Jefferies Reviews Coinbase Global Inc. (COIN)
May 3, 2024 5:41 AM EDTJefferies analyst Trevor Williams reiterated a Hold rating and $245.00 price target on Coinbase Global Inc. (NASDAQ: COIN).
The analyst comments "Big adj. EBITDA beat as both net revenue and OpEx were better than expectations. Retail and institutional trading volume growth... More
Mizuho Reviews Coinbase Global Inc. (COIN)
May 3, 2024 5:40 AM EDTMizuho analyst Dan Dolev reiterated an Underperform rating and $145.00 price target on Coinbase Global Inc. (NASDAQ: COIN)
The analyst comments "Overall, 1Q was strong but this was widely expected given the rise of Bitcoin & crypto volatility YTD. While take rates were... More
JMP Securities Reviews Coinbase Global Inc. (COIN)
May 3, 2024 5:39 AM EDTJMP Securities analyst Devin Ryan reiterated a Market Outperform rating and $320.00 price target on Coinbase Global Inc. (NASDAQ: COIN)
The analyst comments "Blowout quarter for Coinbase as the firm benefits from improving environment and diversification efforts. This evening (5/2), Coinbase reported 1Q24 Diluted EPS of... More
Raymond James Reviews Coinbase Global Inc. (COIN)
May 3, 2024 5:38 AM EDTRaymond James analyst Patrick O\'Shaughnessy reiterated a Market Perform rating and {REMOVEPT} price target on Coinbase Global Inc. (NASDAQ: COIN).
The analyst comments "We maintain our Market Perform rating on Coinbase Global following 1Q24 results. Near-term momentum remains strong as the... More
Barclays Reviews Coinbase Global Inc. (COIN)
May 3, 2024 5:38 AM EDTBarclays analyst Benjamin Budish reiterated an Underweight rating and $179.00 price target on Coinbase Global Inc. (NASDAQ: COIN).
The analyst comments "Coinbase reported very strong performance in Q1, just about every revenue line beating, and adj. EBITDA meaningfully ahead of the Street, as... More
Coinbase Global Inc. (COIN) PT Lowered to $255 at Goldman Sachs
May 3, 2024 5:37 AM EDTGoldman Sachs analyst Will Nance lowered the price target on Coinbase Global Inc. (NASDAQ: COIN) to $255.00 (from $295.00) while maintaining a Buy rating.
The analyst comments "We update our COIN 12-month price target to $255 from $295 based on an unchanged 25x multiple on our Q5-Q8... More
