KeyBanc Capital Markets on Tuesday, December 13th, issued a research report on COIN stock forecast and initiated coverage of the stock with a “Sector Weight” rating.
COIN Stock Forecast & Price:
Based on 22 analysts’ stock projections for Coinbase Global Inc. (COIN:NSD) the average analyst target price for Coinbase Global Inc over the next 12 months is USD 79.16. Buy is the typical analyst recommendation for Coinbase Global Inc.
Based on 6 positive and 5 negative signs, Stock Target Advisor’s own COIN stock forecast analysis is Slightly Bullish. The stock price of Coinbase Global Inc. was USD 42.60 at the most recent closing.
The share price of Coinbase Global Inc. changed by -7.39% over the previous week, -25.86% over the previous month, and -83.34% over the previous year. The Crowd Rating in the stock is set at a Strong Buy.
COIN Stock Forecast-News:
Cathie Wood’s Ark Investment Management purchased 78,992 shares of cryptocurrency exchange Coinbase last week, valued at nearly $3.2 million.
The principal exchange-traded fund of the investing company, ARK Innovation, has acquired 5.8 million COIN shares for a total cost of about $235,481,582. Coinbase is one of the fund’s holdings, making up 3.39% of the total.
Despite market instability brought on by the demise of FTX, Wood’s decision to purchase additional Coinbase stock indicates that she remains bullish on cryptocurrencies.
Wood reiterated her forecast last month that bitcoin will climb by a startling 6,000% to $1 million by 2030 from its current levels.
Brian Armstrong, the chief executive of Coinbase, anticipates a 50% decline in firm income this year as the exchange is burdened by the crypto market turbulence.
About Coinbase Global Inc. (COIN:NSD):
The technology and financial infrastructure for the cryptoeconomy in the United States and elsewhere are provided by Coinbase Global, Inc.
The company provides institutions with a market with a pool of liquidity for transacting in crypto assets, the primary financial account in the crypto economy for retailers, as well as technology and services that allow ecosystem partners to create crypto-based applications and securely accept crypto assets as payment.
Coinbase Global, Inc. was established in 2012.in Wilmington, Delaware.