From Nasdaq: 2024-05-17 14:11:07

On May 17, 2024, B of A Securities upgraded Coinbase Global’s outlook from Underperform to Neutral, with an average one-year price target of 261.47, a 31.28% increase from the latest closing price of 199.17. The projected annual revenue is 4,140MM, with an estimated non-GAAP EPS of -2.77. Institutional ownership is increasing.

Funds and institutions reporting positions in Coinbase Global have increased by 12.75% in the last quarter, with an average portfolio weight of 0.82%. The put/call ratio of COIN is 0.70, indicating a bullish outlook. Shareholders like Conrad N. Hilton Foundation and ARK Innovation ETF have made changes to their portfolio allocations.

Significant shareholders in Coinbase Global include Vanguard Total Stock Market Index Fund Investor Shares, Paradigm Operations, and ARK Investment Management holding various levels of ownership in the company. Coinbase aims to build a more accessible financial system through crypto, starting in 2012 with the vision of secure cryptocurrency transactions for everyone.

Read more at NASDAQ: B of A Securities Upgrades Coinbase Global (COIN)