Summary:
- Benchmark Equity Research initiates coverage of Coinbase Global with a Buy rating.
- Potential regulatory clarity could boost Coinbase's position in the crypto market.
- Analysts forecast significant upside potential for Coinbase stock.
Benchmark Equity Research has initiated coverage of Coinbase Global (NASDAQ: COIN) with a Buy rating, signaling the potential resolution of regulatory uncertainties within the cryptocurrency sector. As the largest U.S. crypto exchange, Coinbase is well-positioned to gain from prospective stablecoin legislation. This optimism has seen Coinbase shares rise by 3.1% in recent trading sessions.
Wall Street Analysts Forecast
An analysis of one-year price targets provided by 27 market analysts reveals an average target price of $283.29 for Coinbase Global Inc (COIN, Financial). The projections range from a high of $400.00 to a low of $169.00. This average price target represents a potential upside of 45.06% from the current stock price of $195.30. For more detailed information, investors can visit the Coinbase Global Inc (COIN) Forecast page.
Furthermore, the consensus recommendation from 29 brokerage firms rates Coinbase Global Inc's (COIN, Financial) performance as "Outperform," with an average rating of 2.3 on a scale where 1 indicates a Strong Buy and 5 indicates a Sell.
According to GuruFocus estimates, the GF Value for Coinbase Global Inc (COIN, Financial) in one year is projected at $184.54. This suggests a potential downside of 5.51% from the current price of $195.30. The GF Value is a proprietary estimate from GuruFocus, which represents the fair trading value of the stock. This estimation considers historical trading multiples, past business growth, and future performance projections. For additional insights, please refer to the Coinbase Global Inc (COIN) Summary page.
