William Blair Positive on Coinbase Global Inc. (COIN): 'Stay With the Pure Play; Coinbase Remains the Best Way to Participate in Long-Term Crypto Upside'

William Blair analyst Andrew Jeffrey reiterated an Outperform rating on Coinbase Global Inc. (NASDAQ: COIN).

The analyst comments "Action item. We encourage investors to add Coinbase with shares trading 32% below the 52-week high (versus bitcoin off about 10%) as the market digests soft but expected second-quarter trading volume and increased infrastructure investments consistent with maintaining leadership in the rapidly evolving crypto market. In light of elevated IPO activity in the crypto industry (see SEC filings here and here), we reiterate our view that long-term investors should aggressively accumulate shares of Coinbase as it builds the most complete, versatile, and hardened crypto platform. We believe Coinbase is the crypto rising-tide-lifts-all-boats stock as competitors lack comparable scale, market share, technology, and diverse revenue drivers, including stablecoins, staking, and subscription and custody services."

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 $302.07 yesterday.

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