Coinbase stock rating maintained at Market Perform by Raymond James

Investing.com - Raymond (NSE:RYMD) James has reiterated its Market Perform rating on Coinbase Global Inc. (NASDAQ:COIN), currently trading at $364.42 with a market capitalization of $92.8 billion, ahead of the company’s second-quarter 2025 earnings report scheduled for August 12. According to InvestingPro analysis, the stock appears to be trading above its Fair Value.

The investment firm cited an uneven cryptocurrency market backdrop in recent months, with trading volumes generally softening since late 2024 despite digital asset prices remaining elevated. Despite market uncertainties, Coinbase has delivered impressive returns, with the stock up 61.3% over the past year and showing strong revenue growth of 76.4%.

Raymond James expressed limited confidence in the sustainability of Coinbase’s current revenue and EBITDA momentum, noting several concerns about the company’s outlook.

The firm also highlighted that increased regulatory certainty in the cryptocurrency space would likely attract competition from traditional brokerage platforms, potentially triggering price compression and eventual degradation of Coinbase’s economics.

Raymond James maintained a cautious view of Coinbase’s long-term earnings potential, influencing its decision to keep the Market Perform rating unchanged.

In other recent news, Coinbase Global Inc. announced its acquisition of Liquifi, a platform specializing in token management, which aims to simplify the token launch process for blockchain developers. This strategic move is expected to enhance Coinbase’s offerings by integrating Liquifi’s capabilities with its Prime platform. In another development, KULR Technology Group secured a $20 million credit facility from Coinbase Credit, a subsidiary of Coinbase, to support its Bitcoin accumulation goals. This marks KULR’s first Bitcoin-backed credit facility, providing access to non-dilutive capital. Additionally, Coinbase held its 2025 annual meeting, where shareholders elected ten directors, ratified Deloitte & Touche LLP as its independent auditor, and approved executive compensation. Analyst firm Bernstein raised its price target for Coinbase to $510 from $310, citing multiple growth drivers, including its stablecoin business and institutional crypto services. Meanwhile, Benchmark reiterated its buy rating on Coinbase, highlighting the company’s transformational year and long-term growth prospects. These developments underscore Coinbase’s strategic initiatives and ongoing momentum in the cryptocurrency sector.

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