Coinbase Analysts Turn More Bullish on Crypto Exchange After Earnings Beat; Shares Climb
Summary
Coinbase (COIN) reported Q4 earnings, beating estimates. KBW upgraded to market perform, citing higher crypto prices and USDC balance growth. Wedbush reiterated outperform, noting no fee compression or cannibalization. Canaccord Genuity maintained buy rating, citing positive industry tailwinds. JMP Securities kept outperform, raising price target. Mizuho Securities remained cautious, citing retail take rate decline.
