Editor's PiCK
Bernstein raises Coinbase price target... "64% increase compared to current price"
Summary
- Bernstein reported that it has raised the target price of Coinbase to $310.
- This is about 64% higher than the previous day's closing price, and they stated that they expect revenue growth due to policy changes after the US presidential election.
- They also emphasized that Coinbase is a dominant platform with a 66% market share in the US market.
Wall Street research firm Bernstein has raised its price target for Coinbase to $310. This is approximately 64% higher than Coinbase's previous closing price ($188.96).
According to CNBC on the 18th (local time), Bernstein stated, "Coinbase is the biggest beneficiary of the Trump administration's goal to make the United States the capital of virtual assets (cryptocurrencies) in the world."
Bernstein added, "Although it has fallen about 24% as the upward momentum disappeared after the US presidential election, the situation will soon change," explaining that Trump's virtual asset policy could significantly increase Coinbase's revenue. They continued, "Bears worry about intensifying competition and fee pressure, but they overlook the fact that the overall market is growing significantly."
Furthermore, they assessed that "Coinbase is a dominant platform with a 66% market share in the US market" and "it is diversifying its revenue by providing not only virtual asset trading but also overall financial services."
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
