Barclays maintains Equalweight rating on Coinbase stock at $361

Investing.com - Barclays has reiterated its Equalweight rating and $361.00 price target on Coinbase Global Inc. (NASDAQ:COIN), as the stock trades near $340, showing a remarkable 92% surge over the past six months. According to InvestingPro analysis, the company maintains a "GOOD" overall financial health score.

The firm’s analysis focuses on Coinbase’s Echo platform, which enables cryptocurrency projects to raise capital through private investment groups or self-hosted token sales via Sonar. The platform allows lead investors to create groups for sharing investments, with members selecting deals on a case-by-case basis.

Echo facilitates investment consolidation by rolling participants into a single entity that invests in target companies using USDC digital currency. This structure streamlines the fundraising process for cryptocurrency projects.

Barclays believes Echo will have minimal impact on Coinbase’s profit and loss statement in the near term, given the company’s current revenue concentration from retail trading and USDC. The revenue contribution from Echo will be "imperceptible" for some time.

The Echo platform aligns with Coinbase’s recent acquisition of Liquifi, which also serves the cryptocurrency founder community, and supports the company’s long-term vision of making on-chain finance more accessible and decentralized.

In other recent news, Coinbase Global Inc. has made several notable announcements and updates. The company launched new business payment tools utilizing the USDC stablecoin, designed to streamline cross-border payments for businesses with features like global payouts and payment links. These tools aim to offer lower fees and instant settlements compared to traditional methods. Meanwhile, Compass Point raised its price target for Coinbase to $277 from $248, citing August’s rally in cryptocurrency prices, though it maintained a Sell rating on the stock. Raymond James reiterated its Market Perform rating on Coinbase, highlighting an uneven cryptocurrency market with elevated digital asset prices but softened trading volumes since late 2024. Additionally, Grayscale Bitcoin Trust ETF updated its agreements with Coinbase, involving custodial and prime broker services for the trust’s bitcoin holdings. This new arrangement includes Coinbase Custody Trust Company, LLC and Coinbase Credit, Inc., outlining responsibilities for managing the trust’s assets. Amid these developments, Coinbase experienced a slight stock movement as Bitcoin-linked stocks reacted to US-China trade tensions.

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