Coinbase Upgraded at Atlantic Equities, Shares Gain 6%
<p>Atlantic Equities analysts upgraded <a href='https://financialmodelingprep.com/financial-summary/COIN'>Coinbase Global Inc. (NASDAQ:COIN)</a> to Overweight from Neutral, with a price target of $70.00 on the stock, noting that the cryptocurrency exchange's results validate management's commitment to restoring sustainable profitability. Shares surged more than 6% intra-day today.</p>
<p>The analysts remarked that the company is regaining custody asset share and utilizing its trustworthiness to exert pricing power, essential steps in fortifying the business model. </p>
<p>Despite persistent risks stemming from the weak volume, recession, regulation, and market prices, the analysts believe that the company's recent initiatives enable investors to focus on the long-term potential. The analysts revised their revenue estimates upward by 8.2% and 7.4% for 2023 and 2024, respectively, with a slight 3.2% decline for 2025.</p>

NASDAQ:COIN