Posted 2/23/2024, 11:43:32 AM
Analysts Upgrade Coinbase Revenue and Price Targets, But Risks Remain
- Analysts upgraded their 2024 revenue forecast for Coinbase from $3.3B to $4.3B, a 48% increase compared to last 12 months
- The consensus price target for Coinbase was raised 28% to $166 per share
- Coinbase's expected growth rate of 48% by 2024 is well above the industry average of 6.6%
- The upgrades suggest analysts are more optimistic about Coinbase's prospects
- However, Simply Wall St identified some risks with Coinbase, like dilutive stock issuance in the past year