Bernstein says Coinbase’s ‘everything exchange’ strategy is gaining traction despite weak first-quarter results, sees 71% upside
The Block
Bernstein maintained an outperform rating on Coinbase, citing growth in derivatives and stablecoin infrastructure despite missing first-quarter earnings expectations.Summary
Bernstein analysts maintain an outperform rating on Coinbase with a $330 price target, representing a 71% upside. Although Coinbase missed first-quarter revenue and earnings estimates due to a market downturn, analysts emphasize that the company's transition into an 'everything exchange' is succeeding. Key growth drivers include robust performance in derivatives, prediction markets, and the expansion of the Base Layer 2 network, alongside integration efforts involving USDC and payments infrastructure.
(Source：The Block)