UPDATE: Canaccord Genuity Starts Coinbase Global Inc. (COIN) at Buy
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Canaccord Genuity analyst Joseph Vafi initiates coverage on Coinbase Global Inc. (NASDAQ: COIN) with a Buy rating and a price target of $285.00.
The analyst comments "While the short term is less clear, the long-term investment considerations relative to COIN are attractive – as we believe in the future of cryptocurrencies, emergence of blockchain clouds/decentralized finance and entire ecosystems that likely emerge around these new markets. We are also positive about COIN’s ability to grow its user base at impressive rates and what this means for monetization beyond crypto. Playbooks from PayPal and Square’s Cash App seem relevant here."
Shares of Coinbase Global Inc. closed at $232.21 yesterday.
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