Coinbase price target raised to $220 from $200 at JMP Securities

JMP Securities raised the firm’s price target on Coinbase to $220 from $200 and keeps an Outperform rating on the shares. Coinbase delivered a strong quarter with an even better outlook, the analyst tells investors in a research note. Coinbase is benefiting from increasing enthusiasm in digital assets, coupled with numerous company-specific growth initiatives which the firm is diligently executing on, JMP says.