Morgan Stanley raises Coinbase forecast to $258 ahead of earnings
Image: Crypto.newsMorgan Stanley raised its Coinbase forecast from $250 to $258 and kept an Equal Weight rating. Citizens JMP cut its Coinbase forecast to $280 from $325. Coinbase reported second-quarter revenue of $1.22 billion, short of analyst estimates. The firm has expanded into stablecoin, derivatives and stock trading products. Wall Street remains divided on the stock ahead of the next earnings report.
Key points
- Morgan Stanley raised its Coinbase forecast from $250 to $258 and kept an Equal Weight rating.
- Citizens JMP lowered its Coinbase forecast to $280 from $325 while retaining a Market Outperform rating.
- Coinbase reported second-quarter revenue of $1.22 billion, below analyst estimates.
- Coinbase has expanded into stablecoin, derivatives and stock trading products alongside its exchange.
- Brokerages hold differing views on Coinbase stock ahead of its next earnings report.
Why it matters
The analyst revisions come before Coinbase's next earnings report, which follows a revenue miss and the company's expansion into stablecoin, derivatives and stock trading products.
What's unclear
Coinbase's next quarterly results have not been reported.
Sources · 2 publishers
Crypto.news
Tier 2
Coinbase stock target raised to $258 by Morgan Stanley
Coverage timeline
- First reported by CoinGape
- Confirmed by Crypto.news
- CryptoVideos brief published
How this brief was made. Our system found this event in 2 independent publications, summarised two complete reports with AI and checked every number above against the source text. Sources are linked in full. Not financial advice. Report an error
