Needham Maintains Buy on Coinbase Glb, Lowers Price Target to $260
Portfolio Pulse from Benzinga Newsdesk
Needham analyst John Todaro maintains a Buy rating on Coinbase Global (COIN) but lowers the price target from $275 to $260.

May 03, 2024 | 11:18 am
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NEUTRAL IMPACT
Needham maintains a Buy rating on Coinbase Global but lowers the price target from $275 to $260.
The adjustment in price target by Needham reflects a nuanced view on Coinbase's valuation, suggesting a slightly reduced but still positive outlook. While the Buy rating is reaffirmed, indicating confidence in the company's fundamentals, the lowered price target may temper short-term expectations among investors. This could lead to a neutral short-term impact on COIN's stock price as the market digests the implications of the adjusted price target against the backdrop of ongoing support from Needham.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100