COIN - 1 Wall Street Analyst Thinks Coinbase Global Stock Is Going to $240. Is It a Buy?
2024-05-06 12:07:00 ET
Cryptocurrency exchange operator Coinbase Global (NASDAQ: COIN) is often considered a good proxy for popular digital coins and tokens. So its stock price tends to move largely in concert with prices of those assets. But it can also attract bullish investors on its own when it delivers a blowout quarter, like it did at the beginning of May.
Several analysts tracking the stock wasted little time raising their price targets on Coinbase stock after that event. One even feels the company's share price could zoom more than 41% higher. Is this realistic, or too pie-in-the-sky?
H.C. Wainwright's Mike Colonnese upped his fair value estimation on the stock to $315 per share from his previous $300, while retaining a buy recommendation.
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1 Wall Street Analyst Thinks Coinbase Global Stock Is Going to $240. Is It a Buy?