BTIG raised the firm’s price target on Coinbase (COIN) to $420 from $410 and keeps a Buy rating on the shares. The company reported “solid” Q3 results with revenue and adjusted EBITDA well ahead of Street estimates, the analyst tells investors in a research note. The firm believes the earnings print affirmed its thesis that Coinbase is in the early stages of building a “virtuous flywheel” between its trading business and digital applications.
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