Goldman Sachs Upgrades Coinbase to Buy

10 days ago

"Coinbase, let's take a look at Coinbase that is doing really well today. So ticker COI and those shares are up more than 7%. It's set for the biggest gain since October and it's all about the Goldman Sachs upgrade. So Goldman Sachs upgraded the stock to buy from neutral previously and the price target now at $33. So that's about a 20% upside from current levels. Gold analysts saying that Coinbase's rapidly growing subscription and services offerings have risen from less than 5% to 40% revenue over the past 5 years. And so they're thinking now that it does deserve a higher PE and that's why they're upgrading that stock."

Goldman Sachs has upgraded Coinbase from neutral to buy, citing its rapidly growing subscription and service revenues which have increased significantly over the past five years. The upgrade comes with a price target of 33, suggesting about a 20% upside from current levels, making this an actionable trade call for investors.

Related Stocks