Coinbase price target raised to $290 from $260 at Needham

Needham raised the firm’s price target on Coinbase (COIN) to $290 from $260 and keeps a Buy rating on the shares. The company beat the firm’s estimates but missed consensus primarily driven by lower than Street expected crypto trading activity, the analyst tells investors in a research note. Needham adds however that a muted activity can be turned around in the event of a Trump win, which would increase crypto product offerings at Coinbase and spur increased trading activity in the space.