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Investing.com - Mizuho (NYSE:MFG) has raised its price target on Coinbase Global Inc. (NASDAQ:COIN) to $267 from $217 while maintaining a Neutral rating on the stock. According to InvestingPro data, Coinbase stock has shown remarkable strength with a 55.63% return over the past year, despite currently trading above its Fair Value.
The price target increase follows Coinbase’s second-quarter results, which were met with a negative stock reaction despite July trading volumes showing improvement. Mizuho noted that cryptocurrency asset volatility declined 16% during the quarter. The company maintains strong fundamentals with an impressive 84.53% gross profit margin and an InvestingPro Financial Health score of "GOOD."
The firm reported that Coinbase’s Software-as-a-Service (SaaS) revenue was in line with guidance, while July volumes appear to be outpacing consensus estimates, contributing to the more optimistic price target.
Despite the higher price target, Mizuho remains on the sidelines regarding Coinbase stock, expressing a preference for Robinhood (NASDAQ:HOOD)’s more diversified portfolio, which offers lower pricing and additional growth opportunities beyond cryptocurrency.
The revised price target reflects Mizuho’s updated fiscal year 2026 estimates, driven by the reinvigorated July trading volumes and solid SaaS revenues observed at Coinbase.
In other recent news, Coinbase Global Inc. reported its second-quarter 2025 earnings, revealing a significant miss on both earnings per share (EPS) and revenue forecasts. The company posted an EPS of $0.12, far below the anticipated $1.51, representing a 92.05% negative surprise. Revenue also fell short, totaling $1.5 billion compared to the expected $1.59 billion, a 5.66% shortfall. Following these results, Benchmark reiterated its Buy rating with a $421.00 price target, despite the weaker-than-expected performance. Meanwhile, Keefe, Bruyette & Woods lowered its price target from $355.00 to $335.00, maintaining a Market Perform rating due to the revenue miss. Citizens JMP maintained its Market Outperform rating and a $440.00 price target, noting the current trading valuation. These developments highlight the varied analyst perspectives on Coinbase’s financial outlook.
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