Piper Sandler raised the firm’s price target on Coinbase (COIN) to $285 from $245 and keeps a Neutral rating on the shares as part of an earnings preview note for earnings, trading companies and ebrokers. The U.S. Presidential election and ensuing risk-on trading environment produced record derivative volumes and the strongest quarter for cash equities since the meme stock impacted 1Q21, the analyst tells investors in a research note. The firm sees a more relaxed regulatory outlook for 2025, as well as lower rates, and a further emboldening of retail traders as key themes.
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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.
