Needham bullish on Coinbase amid better regulatory outlook, meme coin activity

Needham keeps a Buy rating and $260 price target on Coinbase. The company’s May volume was the lowest since December 2023 as the month was a choppy one for crypto prices, and the lack of sustained movement led to a cooling in retail on the platform, the analyst tells investors in a research note. The firm adds however that it remains bullish on the stock given a better regulatory outlook, possible Ether ETFs coming, and rising meme coin activity with the return of “roaring kitty” to the message boards.