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J.P. Morgan Thinks Coinbase Global’s Stock is Going to Recover

In a report released yesterday, Ken Worthington from J.P. Morgan maintained a Buy rating on Coinbase Global (COINResearch Report), with a price target of $258.00. The company’s shares closed last Thursday at $137.32, close to its 52-week low of $135.31.

According to TipRanks.com, Worthington is a 3-star analyst with an average return of 3.0% and a 51.8% success rate. Worthington covers the Financial sector, focusing on stocks such as AssetMark Financial Holdings, Intercontinental Exchange, and Bridge Investment Group.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Coinbase Global with a $286.53 average price target, representing an 88.5% upside. In a report issued on April 7, JMP Securities also maintained a Buy rating on the stock with a $394.00 price target.

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Coinbase Global’s market cap is currently $30.14B and has a P/E ratio of 9.27.

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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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