B. Riley Securities starts covering Coinbase Global with Neutral rating, predicting 21.72% upside potential.

From Nasdaq

October 23, 2024 11:35 AM:

On October 23, 2024, B. Riley Securities initiated coverage of Coinbase Global (NasdaqGS:COIN) with a Neutral recommendation. Analyst price forecast suggests 21.72% upside potential. Average one-year price target for Coinbase Global is $256.48/share, with a range of $161.60 to $399.00.

Projected annual revenue for Coinbase Global is 4,140MM, with a 7.90% decrease. Projected annual non-GAAP EPS stands at -2.77. There are 1,371 funds reporting positions in Coinbase Global, an increase of 48 owners in the last quarter. Put/call ratio indicates a bullish outlook.

VTSMX holds 5,997K shares of Coinbase, representing 2.95% ownership, with an increase in portfolio allocation. Paradigm Operations holds 4,516K shares, VIMSX holds 3,665K shares, and ARK Investment Management holds 3,559K shares in the company.

Coinbase aims to build a more fair, accessible, efficient, and transparent financial system through crypto. The company began in 2012 with the goal of enabling easy and secure Bitcoin transactions. Today, Coinbase offers a platform for accessing the broader cryptoeconomy.

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