Barclays keeps an Underweight rating on Coinbase with a $70 price target following the Q2 report. The company’s adjusted EBITDA beat Street estimates, driven by a higher take rate on retail transactions and lower operating costs, the analyst tells investors in a research note. The firm says Coinbase “struck a confident tone” in its ability to win the case with the SEC, and will be filing a note to dismiss today.
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.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on COIN:
- Coinbase maintains goal to improve FY23 adjusted EBITDA vs FY22
- Coinbase options imply 7.5% move in share price post-earnings
- Coinbase Stock (NASDAQ:COIN): Not Worth the Short-Term Risks
- The SEC’s Coinbase (NASDAQ:COIN) Lawsuit Reignites the Question — Are Cryptocurrencies Securities?
- Coinbase price target raised to $140 from $70 at Canaccord