Analyst Coverage Change
On February 14th, 2023, there were two analyst changes related to Coinbase stock, as follows:
- Barclays (RANK#6) maintained its “Equal-Weight” rating on Coinbase’s stock, but increased its price target from USD 45 to USD 57. An “Equal-Weight” rating suggests that the stock is expected to perform in line with the overall market. The increased price target indicates that Barclays believes the stock has the potential to increase in value from its current price to reach USD 57.
- Piper Jaffray Companies (RANK#15) reiterated its “Overweight” rating on Coinbase’s stock, and its price target of USD 65. An “Overweight” rating means that Piper Jaffray believes the stock will perform better than the overall market. This indicates that Piper Jaffray has a positive outlook on the stock’s future prospects, and expects it to outperform its peers.
Overall, both Barclays and Piper Jaffray seem to have a positive outlook on Coinbase’s future prospects, with Piper Jaffray having a slightly more bullish outlook.
COIN Stock Price Forecast & Analysis
According to the forecasts from 24 analysts, the average target price for Coinbase Global Inc over the next 12 months is USD 66.85. This means that the analysts, on average, believe that the stock has the potential to increase in value by approximately 18% over the next year.
The average analyst rating for Coinbase Global Inc is “Hold,” which suggests that the analysts have a neutral outlook on the stock. This rating is based on the opinions and assessments of the 24 analysts who have provided forecasts and recommendations for the stock.
Stock Target Advisor’s own analysis of Coinbase Global Inc is “Slightly Bullish,” which is based on six positive signals and four negative signals. These signals include factors such as price trends, technical indicators, and analyst recommendations.
The stock price has changed by -24.39% over the past week, which suggests that it has experienced a significant decline in value. However, over the past month, the stock price has increased by 12.85%, which may indicate that the stock is recovering from its recent losses. Over the past year, the stock price has declined by 71.01%, which highlights the significant volatility and risk associated with investing in this stock.