Reported 1 day ago
Barclays has reaffirmed its 'Equalweight' rating on Coinbase Global (COIN) and increased the price target from $352 to $365, citing a more than 24% rise in the stock year to date. This comes on the heels of Coinbase's $2.9 billion acquisition of crypto derivatives platform Deribit, which is expected to have a significant impact on the company's growth, contributing about $30 million in revenue for July. Barclays estimates the deal will represent 5% of Coinbase’s adjusted EBITDA per share based on its annual run rate.
Source: YAHOO