Benzinga - Coinbase Global Inc (NASDAQ: COIN) reported better-than-expected sales for its fourth quarter.
Coinbase reported fourth-quarter revenue of $629.1 million, which came in ahead of a Street estimate of $586.2 million. The company reported a loss of $2.46 per share in the fourth quarter, which missed a Street estimate of a loss of $2.39 per share.
Coinbase shares rose 1.4% to $62.96 in pre-market trading.
These analysts made changes to their price targets on Coinbase after the company released quarterly results.
- Barclays raised the price target on Coinbase from $57 to $63. Barclays analyst Benjamin Budish maintained an Equal-Weight rating on the stock.
- Piper Sandler boosted Coinbase price target from $65 to $70. Piper Sandler analyst Richard Repetto maintained an Overweight rating on the stock.
- Wells Fargo boosted Coinbase price target from $34 to $40. Wells Fargo analyst Jeff Cantwell maintained an Underweight rating on the stock.
- Canaccord Genuity cut the price target on the stock from $120 to $100. Canaccord Genuity analyst Joseph Vafi maintained the stock with a Buy rating.
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