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Piper Sandler and Bernstein Lower Coinbase Target Price This Year, While Bank of America Upgrades Rating to 'Buy'
Summary: According to reports, Piper Sandler has lowered Coinbase's target price from $350 to $270, maintaining a 'Neutral' rating. Previously, Bernstein also lowered Coinbase's target price from $510 to $440. On the other hand, Bank of America Securities has upgraded Coinbase's investment rating from 'Neutral' to 'Buy', keeping the target price unchanged at $340. The bank ...
According to reports, Piper Sandler has lowered Coinbase's target price from $350 to $270, maintaining a 'Neutral' rating. Previously, Bernstein also lowered Coinbase's target price from $510 to $440. On the other hand, Bank of America Securities has upgraded Coinbase's investment rating from 'Neutral' to 'Buy', keeping the target price unchanged at $340. The bank pointed out that despite a 40% drop in its stock price since last July, Coinbase has accelerated product development speed and expanded its target market, aiming to become a 'full-service exchange' and cross-sell more products to existing users. Current US stock market data shows Coinbase's stock price at around $240, with a total market value of approximately $64.5 billion.
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Link: Piper Sandler and Bernstein Lower Coinbase Target Price This Year, While Bank of America Upgrades Rating to 'Buy' [Copy]
