Barclays raised the firm’s price target on Coinbase (COIN) to $204 from $175 and keeps an Equal Weight rating on the shares. The company’s Q3 revenue and adjusted EBITDA missed estimates and volumes “were just a hair below” but an outsized contribution from low-/no-fee stablecoin pair trading resulted in a more meaningful retail transaction miss, the analyst tells investors in a research note. The firm says that while the shares could see pressure today, the focus turns back towards the election.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on COIN:
- Coinbase Reports Positive Q3 2024 Earnings
- Closing Bell Movers: Microsoft, Meta both down about 3% despite earnings beats
- COIN Earnings: Coinbase Global Stock Drops 5% as Financial Results Miss the Mark
- Coinbase sees Q4 subscription and services revenue $505M-$580M
- Coinbase reports Q3 revenue $1.2B, consensus $1.25B