Barclays Reiterates Underweight Rating on Coinbase (COIN) after US court decision on Grayscale's spot BTC ETF

Barclays analyst Benjamin Budish reiterated an Underweight rating and $70.00 price target on Coinbase Global Inc. (NASDAQ: COIN).

"A US appeals court overturned an SEC ruling rejecting Grayscale’s spot BTC ETF, sending it back for further review. While this reads through positively for spot BTC ETF approvals (and appears to have driven up COIN shares today), it remains unclear if this will be a net positive for Coinbase’s P&L."

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 $84.70 yesterday.

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