Coinbase (COIN) Stock: $440 Price Target From Piper Sandler

By Amit Chowdhry ● Nov 10, 2021
  • The shares of Coinbase Global Inc (NASDAQ: COIN) have received a $440 price target from Piper Sandler. These are the details.

The shares of Coinbase Global Inc (NASDAQ: COIN) have received a $440 price target from Piper Sandler. And Piper Sandler analyst Richard Repetto increased the price target from $360 while maintaining an “Overweight” rating on the shares.

Repetto noted that Coinbase had reported a third-quarter miss- which was driven by the retail fee rate. But despite the transaction revenue miss, Repetto believes that Coinbase’s metrics and subscription revenues are pointing to progress in the quarter.

Coinbase posted revenue of $1.24 billion for the quarter. Analysts were expecting about $300 million higher.

But Coinbase noted that market conditions improved meaningfully later in the quarter which they have continued to see into early into the current or fourth quarter. 

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