In a report released today, Devin Ryan from JMP Securities reiterated a Buy rating on Coinbase Global (COIN – Research Report), with a price target of $250.00. The company’s shares closed last Tuesday at $72.99.
According to TipRanks.com, Ryan is a 5-star analyst with an average return of 13.5% and a 53.0% success rate. Ryan covers the Financial sector, focusing on stocks such as Sixth Street Specialty Lending, TriplePoint Venture Growth, and Perella Weinberg Partners.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Coinbase Global with a $252.59 average price target, a 190.3% upside from current levels. In a report issued on April 27, Wedbush also maintained a Buy rating on the stock with a $160.00 price target.
Coinbase Global’s market cap is currently $18.18B and has a P/E ratio of 4.93.
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Coinbase Global Inc is a provider of end-to-end financial infrastructure and technology for the crypto-economy. It generates substantially all its net revenue from transaction fees from trades that occur on its platform. Geographically, it derives a vast majority of its revenues from the US followed by the rest of the world.
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