Shares in this article
• Coinbase share with successful stock market debut
• Analyst is positive on stock outlook
• Set price target of $ 600
$ 250 was the reference price at which Coinbase brought 114.9 million shares to the US tech exchange Nasdaq on Wednesday. Investors took hold of it in a big way, the first determined share price was already at 381 US dollars, at the peak a share certificate cost up to 429 US dollars on the first day of trading. Even if the jump above the $ 420 mark was only a short excursion, the Coinbase share is still trading well above the reference price after the second day of trading: On Thursday, the stocks closed at $ 322.75.
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Analyst expects further price increase
While many experts have not yet issued a specific price estimate for the Coinbase share, one analyst is pushing forward with both a buy recommendation and a specific price target. The expert is extremely optimistic about Coinbase’s stock market opportunities.
Lisa Ellis, an analyst at MoffettNathanson, described the Coinbase share on “Yahoo Finance Live” as a “must have” for long-term growth investors. “We are positive about the outlook for cryptocurrencies as a massively disruptive technology,” she said. “Coinbase is the only US-listed large-cap stock and a market leader in this area, a must for growth or technology-minded people [Investoren] with a time horizon of several years. ”
The expert gave the Coinbase share a “Buy” rating and set a very ambitious price target: Ellis trusts the share to be 600 US dollars, at the current market price this corresponds to an increase potential of around 85 percent. Coinbase is a “ramp for the crypto-economy,” she wrote in a comment.
As the company well describes, Coinbase could enable consumers, financial institutions and companies to easily and efficiently switch between fiat and cryptocurrencies and to store and use cryptocurrencies securely.
She knows that a target price of $ 600 sounds “superbullish,” she told Yahoo Finance Live. And in fact, Ellis does not believe that Coinbase will achieve this goal on the straight path, which she justified with the strong dependence of the share on the crypto market. “With Coinbase it will be a bumpy ride due to the link to the crypto markets. You have to have a strong stomach, you have to be ready to fight your way through the likely high peaks and valleys,” she emphasizes.
Finanzen.net editorial team
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