Coinbase price target raised to $63 from $57 at Barclays

Barclays analyst Benjamin Budish raised the firm’s price target on Coinbase to $63 from $57 and keeps an Equal Weight rating on the shares post the Q4 results. Trading activity worsened versus Q3, although the decline in revenue was more than offset by a rise in interest income, the analyst tells investors in a research note. Coinbase’s January trading revenues are also tracking well ahead of consensus, and most Q1 guidance metrics were better than Street expectations, says the firm.