Benchmark sees Coinbase moving past ‘cyclical crypto brokerage,’ reiterates $270 price target
The Block·
60-second summary
Benchmark analysts are reaffirming their Buy rating on Coinbase, predicting a future beyond its current cyclical crypto brokerage status. They cite the company's expansive product rollout as a key factor in this shift. With a $270 price target, Benchmark is optimistic about Coinbase's growth prospects, which could lead to increased investor confidence in the cryptocurrency market.
Benchmark reiterated its Buy rating on Coinbase, citing an expansive product rollout pushing it beyond a "cyclical crypto brokerage."