Coinbase Analysts Turn More Bullish on Crypto Exchange After Earnings Beat; Shares Climb

Canaccord Genuity maintained its buy rating on the stock, raising its price target to $240 from $140. The firm cited positive tailwinds for the business and the industry in general.

JMP Securities kept its outperform rating and increased its price target to $220 from $200. It said it was pleased by the exchange’s fourth-quarter performance and even more encouraged by its outlook.