Coinbase Stock Has 25% Upside, According to 1 Wall Street Analyst

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Coinbase Stock Has 25% Upside, According to 1 Wall Street Analyst

Motley Fool04-10

JMP Securities see Coinbase stock rising another 25%.Coinbase is benefiting from a rising Bitcoin price and increased cryptocurrency volatility.While Coinbase may generate improved results in the near...

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clc6152
·04-10
Awesome ! My target price is 300 USD
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Nevertheless, JMP Securities maintained its \"outperform\" rating and boosted its price target to $320. That new price target represents potential upside of 25% from the stock's Apr. 8 closing price.Riding Bitcoin higherShares of Coinbase have surged this year as Bitcoin has rallied nearly 70% so far in 2024.Coinbase has also made legitimate progress in reducing its costs, a necessity as cryptocurrency trading volumes dried up during the last crash. The company has also expanded its sources of revenue beyond transaction fees.The company's latest results put this progress on display. While revenue was down slightly in 2023, adjusted EBITDA surged into positive territory, and the company even reported a small net profit. 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My target price is 300 USD","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/293747847012448","repostId":2426433754,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":13,"commentSize":1,"repostSize":1,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}