UPDATE: Coinbase Global Inc. (COIN) PT Raised to $300 at Mizuho on Higher Bitcoin, Says Stock is a Trade, Not an Investment

October 20, 2021 4:09 PM EDT
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Price: $263.24 -0.91%

Rating Summary:
    15 Buy, 5 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 26 | Down: 14 | New: 72
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(Updated - October 20, 2021 4:10 PM EDT)

Mizuho Securities analyst Dan Dolev raised the price target on Coinbase Global Inc. (NASDAQ: COIN) to $300.00 (from $220.00) while maintaining a Neutral rating.

The analyst comments "Raising COIN revenue estimates and PT to $300 amid higher Bitcoin prices and rising volatility. We also see early signs of Bitcoin market share gains in October following multiple quarters of share losses. Should investors get excited about recent momentum? We continue to believe COIN's over-reliance on trading commissions (85-90% of total revenue) makes it vulnerable to long-term take rate compression as competition mounts and free trading alternatives proliferate. Reiterate Neutral."

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