“Still, COIN remains an attractive story for those that want to buy it on spot price weakness as the company continues to expand, diversify and gain share against the backdrop of a potentially hyper growth TAM,” Canaccord’s Joseph Vafi said in a note, referring to total addressable market, or potential market size. The firm maintained a buy rating and reduced its price target to $275 from $342, citing potential for volatility in Coinbase’s margin profile.

Source link