Image Source: Pixabay
Needham analyst John Todaro initiated coverage of Coinbase (COIN) with a Buy rating and $420 price target, implying 64% upside from current prices.
The analyst sees Coinbase as a "market-leading crypto-asset exchange with significant future opportunities beyond exchange services," including staking, custody, and yield-bearing products. He expects the company's exchange business to "grow rapidly and sustainably" as new investors adopt its crypto assets and services.
Coinbase is a leading provider of financial services, infrastructure, technology, and custodial services for the high-growth, crypto-asset universe, Todaro tells investors in a research note.
Comments
Log in or sign up to join the conversation.