Shares of Coinbase Global Inc (Symbol: COIN) recently traded at $295.48, surpassing the average 12-month analyst target price of $290.83. This uptick raises questions about potential analyst responses, which could include downgrading the stock’s valuation or increasing their target prices.
Analysts’ perspectives vary widely, with 23 different targets contributing to the average for Coinbase. Notably, while some analysts predict a price as low as $185.00, others are optimistic and target as high as $420.00. The overall standard deviation stands at $62.78, highlighting the range of opinions on COIN’s value.
Investors often look to the average price target as a measure of collective analyst sentiment. With Coinbase’s share price now exceeding the average target of $290.83, it prompts investors to evaluate their next move. Should they view this as a stepping stone toward higher prices, or does the current valuation signal a need to reduce exposure? The table below summarizes the latest analyst ratings for Coinbase Global Inc:
| Recent COIN Analyst Ratings Breakdown | ||||
|---|---|---|---|---|
| » | Current | 1 Month Ago | 2 Months Ago | 3 Months Ago |
| Strong buy ratings: | 8 | 8 | 8 | 7 |
| Buy ratings: | 1 | 1 | 1 | 1 |
| Hold ratings: | 13 | 13 | 13 | 12 |
| Sell ratings: | 0 | 0 | 0 | 0 |
| Strong sell ratings: | 2 | 2 | 2 | 2 |
| Average rating: | 2.46 | 2.46 | 2.46 | 2.5 |
The average rating on this table ranges from 1 (Strong Buy) to 5 (Strong Sell). Information for this article is sourced from Zacks Investment Research via Quandl.com. For the latest Zacks research report on COIN, click here — FREE.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
