The upward revision in Coinbase Global's consensus price target to $349.61 primarily reflects a higher forecasted future P/E and a modest improvement in revenue growth expectations.
What's in the News
- Coinbase and PNC Bank announced a strategic partnership to provide PNC clients with secure cryptocurrency solutions, including the ability to buy, hold, and sell cryptocurrencies, while PNC offers select banking services to Coinbase.
- Webuy Global integrated Coinbase Commerce, enabling payments in hundreds of cryptocurrencies (including USDC stablecoin) for global travel packages, improving FX risk management and streamlining international transactions.
- SolarBank Corporation is opening a Coinbase Prime account as part of its new Bitcoin treasury strategy, seeking secure custody and access to USDC services to diversify reserves.
- Coinbase signed a major office lease in Charlotte to establish a "Center of Excellence," supporting a national expansion plan to add over 1,000 jobs, with at least 130 in Charlotte.
- Coinbase was added to the S&P 500, S&P 500 Value, S&P 500 Growth, S&P 500 Equal Weighted, S&P 500 Financial Sector, S&P 500 Financial Services, S&P Composite 1500, and S&P Global 1200 indices.
Valuation Changes
Summary of Valuation Changes for Coinbase Global
- The Consensus Analyst Price Target has significantly risen from $314.85 to $349.61.
- The Future P/E for Coinbase Global has risen from 52.09x to 57.00x.
- The Consensus Revenue Growth forecasts for Coinbase Global has risen slightly from 6.4% per annum to 6.5% per annum.
Disclaimer
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