Cryptocurrency trading platform Coinbase Global Inc (NASDAQ: COIN) reported first-quarter financial results Tuesday. Analysts shared their takes on the company as shares hit new 52-week lows after the print.
The Coinbase Analysts: Bank of America analyst Jason Kupferberg has a Buy rating on Coinbase shares and lowered the price target from $273 to $185.
JMP analyst Devin Ryan has a Market Outperform rating and lowered the price target from $394 to $250.
Needham analyst John Todaro has a Buy rating and lowered the price target from $360 to $173.
Raymond James analyst Patrick O’Shaugnessy has an Underperform rating and no price target.
Related Link: Why Coinbase Stock Will Bounce Off Its All-Time Low
The Coinbase Takeaways: Volatility in the cryptocurrency market impacted the first quarter for Coinbase, Kupferberg said. New product offerings from the company have the analyst excited for the long-term outlook.
“We continue to …
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