Analyst John Todaro from Needham maintained a Buy rating on Coinbase Global (COIN – Research Report) and keeping the price target at $330.00.
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John Todaro has given his Buy rating due to a combination of factors that signal a promising outlook for Coinbase Global. Primarily, the anticipation of a strong fourth quarter for the company is bolstered by the impressive performance of Robinhood (HOOD), which reported a significant year-over-year increase in crypto revenue. This surge in retail activity during the closing months of the previous year, along with management’s strong confidence in the future, particularly in the areas of AI and cryptocurrency, contributes to a positive sentiment for Coinbase’s near-term prospects.
Despite some caution regarding the first quarter of 2025, due to decreased retail volumes following an alt-coin crash, the expectation remains optimistic for Coinbase. The focus for the upcoming earnings release includes key areas such as retail take rates, year-to-date retail activity, stablecoin adoption, and the evolving landscape of crypto regulation. These factors combined underscore the potential for growth, supporting the Buy rating assigned by Todaro.
In another report released on February 11, H.C. Wainwright also reiterated a Buy rating on the stock with a $330.00 price target.