Rosenblatt Sees Coinbase as Buying Opportunity After 30% Decline
Coinbase (COIN) shares have declined approximately 30% since mid-February and 40% since reaching a 52-week high in early December. Investment firm Rosenblatt sees potential in the stock, recommending buying during this dip.
- Rosenblatt analyst Chris Brendler initiated coverage with a buy rating and a price target of $305.
- Brendler highlights COIN's ability to thrive in both bull and bear markets and growing non-trading revenue as factors for resilience.
- Recent share declines attributed to tariffs from the Trump administration and political uncertainty affecting risk markets.
- COIN remains a leading player due to its strong brand, liquidity, and user experience.
- Regulatory clarity is expected to draw more traditional finance players into crypto, benefiting COIN's market position.
As of Friday, COIN is down 1% to $211, while the Nasdaq fell 1.4%, S&P 500 decreased by 1.1%, and bitcoin dropped 3.5% to $87,000.