Coinbase (COIN, Financial) has come under scrutiny following its subsidiary Base's recent launch of a "content coin" on the Zora platform. This move has sparked accusations of a potential "pump-and-dump" scheme. However, Coinbase has publicly addressed these concerns by stating that Base will not engage in selling the tokens.
The controversy centers on the nature and intent of the newly launched tokens, with critics suggesting that such initiatives can lead to manipulative trading practices. Despite these accusations, Coinbase insists on maintaining transparency and integrity in its operations, emphasizing that there will be no token sales by Base.
This development adds to the growing conversation about the responsibilities of major cryptocurrency platforms in ensuring ethical practices within the industry. Coinbase, as a significant player in the crypto space, continues to navigate regulatory and public scrutiny while expanding its offerings.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 26 analysts, the average target price for Coinbase Global Inc (COIN, Financial) is $284.50 with a high estimate of $400.00 and a low estimate of $169.00. The average target implies an upside of 62.54% from the current price of $175.03. More detailed estimate data can be found on the Coinbase Global Inc (COIN) Forecast page.
Based on the consensus recommendation from 29 brokerage firms, Coinbase Global Inc's (COIN, Financial) average brokerage recommendation is currently 2.3, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Coinbase Global Inc (COIN, Financial) in one year is $184.72, suggesting a upside of 5.54% from the current price of $175.03. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Coinbase Global Inc (COIN) Summary page.
