- The shares of Coinbase Global Inc (NASDAQ: COIN) have received a $394 price target from JMP Securities. These are the details.
The shares of Coinbase Global Inc (NASDAQ: COIN) have received a $394 price target from JMP Securities. And JMP Securities analyst Devin Ryan is maintaining an “Outperform” rating on the shares.
Ryan adjusted the rating as part of a broader research note on banks and brokers. Last year represented an abnormally strong year for investment banks and capital markets businesses. But with higher interest rates and some moderation in capital markets activity after a record year, the magnitude of change on both fronts has been much greater than initially expected.
Going forward, Ryan added that even though trading volumes have held up relatively well, uncertainty in the macro and geopolitical backdrop has led to a substantial pullback in investment banking activity, driving downward revisions for capital markets-centric stocks.
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