Needham analyst John Todaro reiterated a Buy rating on Coinbase Global (COIN – Research Report) today and set a price target of $270.00.
John Todaro has given his Buy rating due to a combination of factors including the positive outlook on Coinbase Global’s strategic moves and market conditions. Despite a slight miss in top-line revenue expectations, the company modestly exceeded Needham’s estimates, indicating a resilient performance amid challenging market conditions.
Furthermore, the acquisition of Deribit is seen as a significant step towards expanding international revenues and establishing Coinbase as a leader in the crypto derivatives market. This acquisition is anticipated to positively impact future financial projections, particularly for 2026. Additionally, the recent rebound in crypto asset prices suggests a potential stabilization in trading volumes, which could support the company’s growth in the near term. Consequently, these factors collectively underpin the Buy rating, despite a revised price target from $330 to $270.
In another report released today, Rosenblatt Securities also reiterated a Buy rating on the stock with a $260.00 price target.