COIN - 1 Wall Street Analyst Thinks Coinbase Stock Is Going to $145. Is It a Sell?
2024-04-16 06:30:00 ET
Shares of Coinbase Global (NASDAQ: COIN) have been on a stunning run during the past several months. The cryptocurrency trading platform has been a beneficiary as more investors have easy access to Bitcoin , and the leading cryptocurrency has increased in value.
That led one analyst to give Coinbase stock a big price target boost last week. But that doesn't mean Mizuho analyst Dan Dolev thinks you should buy the stock. Even after raising his firm's target price from $84 to $145 per share, the analyst says to sell the stock. That's because the new price target represents almost a 40% drop from Coinbase's recent share price.
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1 Wall Street Analyst Thinks Coinbase Stock Is Going to $145. Is It a Sell?