Coinbase Global Stock Gets Analyst Love On Q4 Performance
Portfolio Pulse from Anusuya Lahiri
Coinbase Global Inc (NASDAQ:COIN) received positive analyst ratings following its Q4 earnings beat, with revenue of $953.8 million and EPS of $0.51, surpassing expectations. Analysts highlighted Coinbase's thriving business amid increased volatility, trading volumes, and partnerships, particularly noting its role as custodian for 8 of the 11 approved spot BTC ETFs. Price targets were raised by several analysts, reflecting optimism about Coinbase's market leadership, expansion, and product initiatives. However, Goldman Sachs maintained a Sell rating despite raising its price target, citing market conditions as primary performance drivers.
February 16, 2024 | 6:15 pm
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Coinbase Global Inc received positive analyst ratings and raised price targets following a Q4 earnings beat, with significant developments in the digital assets industry and its role in BTC ETFs highlighted.
The positive analyst ratings and raised price targets reflect optimism about Coinbase's future performance, driven by its Q4 earnings beat, increased trading volumes, and strategic role in the BTC ETFs. The company's expansion and product initiatives further support a bullish outlook, although Goldman Sachs' Sell rating introduces a note of caution regarding market conditions.
CONFIDENCE 90
IMPORTANCE 95
RELEVANCE 100