Coinbase Stock Hits Record High Alongside Bitcoin as Analysts Highlight ‘Growth Runway’

Coinbase shares achieved historically maximum on Monday-and briefly moved the Bitcoin-only $ 400, a price goal set by Argus research in a note published earlier on the day.

KEVIN Heal and Inagaki Masako have described Crypto Exchange and called it “promising”, despite their insurance award.

The shares closed on Monday at $ 394.22 after Yahoo Finance reached a record of $ 398.50. Coinbase now has a market ceiling north of $ 100 billion.

“Based on, [COIN] “This means that we believe that coins are higher than a group of peers and its growth track is promising, which justifies the bonus, at least in the near future and during the bull market.”

In the last month, the shares have increased by 60%, aroused a more favorable political environment for the crypto industry, rising digital assets prices, and their own acquisitions that allow him to expand his services.

This week, Citizens of JMP modified their $ 400 from $ 475 from $ 475, emphasizing its long -term positive view of shares, even though it revised its award. Last month, Bernstein increased his price target for Coinbase 65% to $ 510, call the “misunderstood” shares.

In their note, Argus analysts emphasized the “impressive growth record” of trade platforms, including 76.45% of income growth and maintaining 85.25% of gross profit margin.

Bull rating is expected to come because the US House of Representatives will pass a regulatory framework for stablecoins this week Called the law on the geniuslikely to increaseing More than $ 250 billion per stablecoin market. According to Argus, the law could also act as a “impulse to grow” for Coinbase, which is raking in 50% USDC Revenue Stablecoin Emissseer Circle Based on the existing trade agreement between the two companies.

The largest crypto of the US Exchange, according to daily trading volume, also continued research and development, which includes a recent revelation of Bitcoin credit card and its plans to initiate Coinbase payments, solving payment payments for electronic trade transactions.

“We expect recent investments to generate continuing daily users,” the analysts said. Coinbase has traditionally collected most of its income from business fees, which charges its retail customers.

Coinbase also did not break the Discover Financial Services on the S&P 500 in May, making it the first crypto company to be listed on the index, noted analysts. They added that the incorporation of the company “should provide additional support of shares”.

Despite this bull outlook, analysts have recognized some risks for coins and noted that the stock stock stocks are traded with a bonus compared to ICE, NDAQ, CME and CBE.