UPDATE: Coinbase Global Inc. (COIN) PT Raised to $300 at Mizuho on Higher Bitcoin, Says Stock is a Trade, Not an Investment
- Wall Street regains some ground with help from easing virus fears
- Digital World Acquisition Corp. (DWAC) Stock Jumps As U.S. Congressman Nunes Leaves to Head Trump Media
- Kohl's (KSS) Stock Tick Higher as Activist Investor Engine Capital Urges Board to Consider Sale
- Bitcoin (BTC) Price Remains Below $50,000 After Weekend Selloff, Analyst Expects a 'Hard Month'
- MongoDB (MDB) Stock Surges 17% Following Q3 'Beat and Raise'
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."
You May Also Be Interested In
- Marathon Digital (MARA), Other Bitcoin-Related Stocks Sink
- Barclays Plc (BARC:LN) (BCS) PT Raised to GBP2.60 at JPMorgan
- Bank of Ireland (BIRG:ID) (BKRIY) PT Raised to EUR5.80 at JPMorgan
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Hot Comments, Trader Talk
Sign 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!