Coinbase (COIN) Stock: $60 Price Target From Mizuho

By Amit Chowdhry ● May 22, 2022
  • The shares of Coinbase Global Inc (NASDAQ: COIN) have received a $60 price target from Mizuho. These are the details.

The shares of Coinbase Global Inc (NASDAQ: COIN) have received a $60 price target from Mizuho. And Mizuho analyst Dan Dolev maintains a “Neutral” rating on the shares.

Dolev adjusted the rating after surveying bitcoin traders on the company’s platform. According to the survey, the average investor’s bitcoin cost basis is $21,000.

And if this is true, then it means that the more bitcoin nears such levels, the closer the average investor gets to the break-even point. However, nearly 50% of those surveyed reported no intention to sell bitcoin irrespective of how low bitcoin goes. For the remaining 50%, the tipping point is around $9,000.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.