William Blair analyst Andrew Jeffrey has maintained their bullish stance on COIN stock, giving a Buy rating on July 15.
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Andrew Jeffrey’s rating is based on a combination of factors that highlight both current challenges and future opportunities for Coinbase Global. Despite anticipating a decline in second-quarter trading revenue due to decreased trading volumes, Jeffrey believes this is a temporary setback. He suggests that the market already expects this dip, and any resultant volatility should be viewed as a buying opportunity for long-term investors.
Furthermore, Jeffrey is optimistic about Coinbase’s future, driven by the potential growth in software and services revenue. He emphasizes the importance of USDC in cross-border commerce and expects Coinbase to benefit significantly from its increasing market capitalization. Additionally, he sees Coinbase’s leadership in infrastructure and custodial services as a strong foundation for future growth, especially as regulatory clarity improves. This combination of factors underpins his Buy rating, suggesting that Coinbase is well-positioned to capitalize on the evolving crypto landscape.
According to TipRanks, Jeffrey is a 5-star analyst with an average return of 14.7% and a 65.24% success rate. Jeffrey covers the Technology sector, focusing on stocks such as Fiserv, Corpay Inc, and WEX.
In another report released on July 15, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $443.00 price target.