Wang & Lee Group board approves 250-to-1 reverse share split
Investing.com - Jefferies raised its price target on Coinbase Global Inc. (NASDAQ:COIN) to $405.00 from $260.00 on Monday, while maintaining a Hold rating on the cryptocurrency exchange. The stock, currently trading at $379.25, has shown remarkable momentum with a 56% return over the past year, according to InvestingPro data.
The firm adjusted its estimates ahead of Coinbase’s second-quarter earnings report, fine-tuning its methodology for modeling the USDC revenue share despite relatively modest growth in the stablecoin’s market capitalization.
Jefferies noted that USDC market cap has increased only 5% since early May, despite recent market enthusiasm around stablecoins.
The firm projects retail trading volumes will decline 40% quarter-over-quarter, but has increased its overall net revenue estimates by approximately 5%.
Jefferies’ revenue forecast of $1,439 million remains about 6% below the Street consensus of $1,543 million, with its adjusted EBITDA projection also 6% below market expectations for the second quarter.
In other recent news, Coinbase Global Inc. has seen a flurry of activity and analysis. Monness, Crespi, Hardt downgraded Coinbase’s stock from Buy to Neutral, expressing concerns about its valuation compared to real-world utility. In contrast, Erste Group initiated coverage with a Buy rating, highlighting Coinbase’s leading position in cryptocurrency trading. Additionally, PNC Bank announced a strategic partnership with Coinbase to offer digital asset solutions to its clients, utilizing Coinbase’s Crypto-as-a-Service platform.
Analyst firms have also adjusted their price targets for Coinbase. Piper Sandler increased its price target to $350 from $190, maintaining a Neutral rating, due to peer group multiple expansion and a favorable outlook for digital assets. Cantor Fitzgerald significantly raised its price target to $500, citing stablecoin growth and revised earnings estimates, projecting a 2026 earnings per share of $10.76. These developments reflect the varied perspectives and strategic movements surrounding Coinbase in the financial markets.
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