Raymond James lowered the firm’s price target on Coastal Financial (CCB) to $100 from $120 and keeps a Strong Buy rating on the shares. The Q1 results missed on EPS due to elevated BaaS-related expenses and GreenFi costs, but underlying controllable expenses were largely flat, with strong BaaS fundamentals and ongoing platform integration efforts positioning the business as a long-term growth story despite near-term earnings pressure, the analyst tells investors in a research note.
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Read More on CCB:
- Coastal Financial price target lowered to $95 from $115 at Keefe Bruyette
- Coastal Financial price target lowered to $120 from $145 at TD Cowen
- Coastal Financial Eyes BaaS Expansion with Evolve Assets
- Coastal Financial reports Q1 EPS 78c, consensus $1.04
- Coastal Financial Reports Strong Q1 Growth and BaaS Expansion