Analyst John Todaro from Needham reiterated a Buy rating on Coinbase Global and keeping the price target at $400.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
John Todaro has given his Buy rating due to a combination of factors including Coinbase Global’s strong financial performance in the third quarter of 2025. The company reported an adjusted EBITDA of $801 million, significantly surpassing the initial estimate of $661 million. This positive outcome was largely driven by better-than-expected revenues, with Coinbase generating approximately $1.9 billion compared to the anticipated $1.8 billion.
Additionally, the institutional transaction revenues exceeded expectations, reaching $135 million due to increased derivative volumes following the acquisition of Deribit. Coinbase’s strategic move to expand its platform beyond crypto-specific markets positions it as a competitive ‘everything exchange,’ potentially rivaling other public peers like HOOD. Despite the recent sluggish retail trading volumes in the industry, John Todaro remains cautiously optimistic, maintaining a Buy rating while slightly adjusting the fourth quarter estimates.
Todaro covers the Financial sector, focusing on stocks such as TeraWulf Inc, Riot Platforms, and Cleanspark. According to TipRanks, Todaro has an average return of 89.4% and a 75.29% success rate on recommended stocks.
In another report released today, Citizens JMP also reiterated a Buy rating on the stock with a $440.00 price target.