- Coinbase's entry into NFT markets sparks debate as Base launches a memecoin.
- Analysts project an average price target of $285.07, suggesting significant growth potential.
- Coinbase currently holds an "Outperform" rating, with a GF Value estimate indicating modest upside.
Coinbase Global Inc. (NASDAQ: COIN), a leading cryptocurrency exchange, recently found itself at the center of a storm. The controversy arose when its subsidiary, Base, launched a memecoin on the NFT platform, Zora. The token's market value skyrocketed to an impressive $14 million before sharply declining. In response to the uproar, Coinbase emphasized that it had no plans to monetize this trial run.
Wall Street Analysts Weigh In
Analyzing insights from 26 seasoned analysts, the average one-year price target for Coinbase Global Inc. (COIN, Financial) is set at $285.07. Projections range from a high of $400.00 to a more conservative low of $169.00. This forecast indicates a promising upside of 62.87% from the current trading price of $175.03. For an in-depth breakdown of these projections, visit the Coinbase Global Inc. (COIN) Forecast page.
Brokerage Recommendations
Examining consensus data from 29 brokerage firms, Coinbase Global Inc. (COIN, Financial) enjoys an "Outperform" status, reflected in its average brokerage recommendation of 2.3. Within this rating system, 1 signifies a Strong Buy, and 5 indicates a Sell, showcasing a positive market sentiment towards COIN.
Evaluating Coinbase's Fair Value
According to estimates from GuruFocus, the projected GF Value for Coinbase Global Inc. (COIN, Financial) over the next year is $184.72. This suggests a potential upside of 5.54% from the present market price of $175.03. The GF Value uses historical trading multiples and considers past business growth alongside future performance predictions to estimate a stock's fair value. For additional detailed insights, please view the Coinbase Global Inc. (COIN) Summary page.
