Editing Coinbase
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Goldman Sachs is launching coverage of Coinbase Global (COIN) with a Buy rating and a $306 price target for 36% upside. Goldman Sachs believes COIN brings 1) leverage to an ecosystem that has seen strong growth driven by increasing adoption of digital currencies, 2) a leading consumer platform with strong customer acquisition trends as well as a robust and rapidly growing institutional business, 3) an attractive business model that thrives on elevated cryptocurrency volatility, and 4) significant opportunities to add additional features and capabilities. While Goldman Sachs believes that the continued success or failure of cryptocurrencies as an asset class will inevitably determine COIN’s longer-term fate, it believes COIN represents a blue-chip way through which to invest in the development of the ecosystem, powered by 1) its careful | ==Summary== | ||
Goldman Sachs is launching coverage of Coinbase Global (COIN) with a Buy rating and a $306 price target for 36% upside. Goldman Sachs believes COIN brings 1) leverage to an ecosystem that has seen strong growth driven by increasing adoption of digital currencies, 2) a leading consumer platform with strong customer acquisition trends as well as a robust and rapidly growing institutional business, 3) an attractive business model that thrives on elevated cryptocurrency volatility, and 4) significant opportunities to add additional features and capabilities. While Goldman Sachs believes that the continued success or failure of cryptocurrencies as an asset class will inevitably determine COIN’s longer-term fate, it believes COIN represents a blue-chip way through which to invest in the development of the ecosystem, powered by 1) its careful appro | |||
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Lastly, we note that at a more operational level, downside risks to our positive investment view on COIN include lower levels of crypto volatility and lower commission rates. | Lastly, we note that at a more operational level, downside risks to our positive investment view on COIN include lower levels of crypto volatility and lower commission rates. | ||
[[Category:Thesis]] | [[Category:Thesis]] | ||
[[Category:Equities]] | [[Category:Equities]] | ||
[[Category:Coinbase]] | [[Category:Coinbase]] | ||
__INDEX__ | __INDEX__ | ||