Coinbase (COIN): $447 Price Target From JPMorgan

By Amit Chowdhry ● Updated January 14, 2022
  • The shares of Coinbase Global Inc (NASDAQ: COIN) have received a $447 price target from JPMorgan. These are the details.

The shares of Coinbase Global Inc (NASDAQ: COIN) have received a $447 price target from JPMorgan. And JPMorgan analyst Kenneth Worthington is maintaining an “Overweight” rating on the company shares.

Worthington noted that the crypto markets had a big year in 2021 along with greater acceptance by mainstream investors and companies is likely this year. And Worthington pointed out that cryptocurrencies are technology and development continues to blossom driven by the scaling of Layer-1 chains and the introduction and growth of Layer-2.

Going forward, Worthington said that if 2021 was the year of the nonfungible token, he sees 2022 as possibly the year of the blockchain bridge (driving greater interoperability of various chains) or the year of financial tokenization.

Going forward, Worthington sees the cryptocurrency markets as increasingly relevant to financial services. And the use cases for the cryptomarkets will continue to grow and new projects and tokens with more and different use cases will surface, contends Worthington.

Plus Worthington said that with these projects attached to tokens and Coinbase a leading exchange to buy and sell tokens, Coinbase shares are a leading direct beneficiary of crypto market growth.

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