Mizuho Securities Starts Coinbase Global Inc. (COIN) at Neutral
Get Alerts COIN Hot Sheet
Rating Summary:
14 Buy, 13 Hold, 6 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 17 | Down: 14 | New: 17
Join SI Premium – FREE
Mizuho Securities analyst Dan Dolev initiates coverage on Coinbase Global Inc. (NASDAQ: COIN) with a Neutral rating and a price target of $285.00.
The analyst comments "With over 80% of total revenue reliant on retail transaction fees, significant user overlap with PayPal and Square's Cash App, and high user sensitivity to transaction fees, the specter of downward pressure on commissions is a concern. Over time, COIN's fees may face downward pressure from competing platforms following the footsteps of zero-commission stock trading, because platforms like PayPal and Cash App primarily use crypto trading products as engagement tools. In contrast, COIN relies on commissions for the vast majority of its revenue. COIN is a major share gainer, with best-in-class user engagement. However, the risk of pricing pressure offsets the abundant opportunities surrounding the stock."
For an analyst ratings summary and ratings history on Coinbase Global Inc. click here. For more ratings news on Coinbase Global Inc. click here.
Shares of Coinbase Global Inc. closed at $320.82 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Cleveland Research Upgrades Dynatrace Inc. (DT) to Buy, 'optimism underlying fundamentals are likely to support upside'
- Morgan Stanley Assumes Bumble Inc. (BMBL) at Equalweight
- Coinbase Global Inc. (COIN) PT Raised to $325 at Compass Point
Create E-mail Alert Related Categories
Analyst Comments, New CoverageSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!