JMP Securities upgrades Coinbase price target to $320, citing positive earnings and reduced error room.

From Nasdaq: 2024-04-10 02:00:00

Analysts at JMP Securities raised their price target for Coinbase (NASDAQ: COIN) to $320 with an “outperform” rating, citing reduced room for error. Coinbase’s shares have surged alongside Bitcoin, and the company has shown progress in cost reduction and revenue diversification beyond transaction fees, leading to positive earnings. However, investing in Bitcoin directly or through ETFs may be a more sustainable option due to potential revenue uncertainties with Coinbase. The Motley Fool’s Stock Advisor analysts have not included Coinbase in their list of top 10 stocks, recommending other options for potential returns.

Read more at Nasdaq: Coinbase Stock Has 25% Upside, According to 1 Wall Street Analyst