Coinbase Management Has Realigned Company's Cost Base To Volatile Trading Environment - This Analyst Says While Raising Expectations
Portfolio Pulse from Anusuya Lahiri
Wedbush analyst Moshe Katri reiterated Coinbase Global, Inc (NASDAQ: COIN) with an Outperform and a $110 price target. The company's 3Q revenue and EPS beat Street’s expectations. COIN reported stronger than expected results, featuring a material profitability improvement. The analyst projects Q4 revenue of $635 million and EPS of $0.00. COIN shares are trading higher by 2.43% at $88.47.
November 07, 2023 | 8:33 pm
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POSITIVE IMPACT
Coinbase's Q3 results exceeded expectations, leading to an Outperform rating from Wedbush analyst Moshe Katri. The company's shares are currently trading higher.
The positive rating from the Wedbush analyst, along with the company's strong Q3 performance, are likely to boost investor confidence and potentially drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100