Coinbase Global (COIN) Climbs 16% as 7 Analysts Issue 'Buy' Reco

We recently published 10 Market Beasts Leaving Wall Street in the Dust. Coinbase Global Inc. (NASDAQ:COIN) was one of the best performers on Friday.

Coinbase Global snapped a three-day losing streak on Friday, jumping 16.46 percent to finish at $164.32 apiece as investors took heart from seven investment firms’ “buy” recommendations for the stock despite lower price targets.

In separate market reports, Coinbase Global Inc. (NASDAQ:COIN) received “buy” recommendations from Benchmark, Rosenblatt, Needham, BTIG, Goldman Sachs, Canaccord, and HC Wainwright, despite them reducing their price targets to a range of $230 to $350. Still, the price target range marked an upside potential of 40 to 113 percent from its latest closing price.

Meanwhile, Coinbase Global Inc. (NASDAQ:COIN) received an “overweight” rating from JPMorgan, albeit the latter also cut its price target to $252 from $290.

Piper Sandler and Baird were both “neutral” about the stock, with both lowering their price targets to $150 and $165, from $270 and $240, respectively.

Barclays, for its part, issued an “equal weight” rating, while Jefferies suggested to “hold” shares of the company. Both firms slashed their price targets to $148 and $151, respectively.

Monness Crespi was the most pessimistic among the investment firms, turning to “sell” from “buy” prior, with a lower price target of $120 versus $375.

In other news, Coinbase Global Inc. (NASDAQ:COIN) dropped its net income attributable to shareholders by 50 percent last year to $1.277 billion from $2.59 billion in 2024. Total revenues, however, were up by 9.4 percent to $7.18 billion from $6.56 billion.

In the fourth quarter alone, the company swung to an attributable net loss of $666.7 million from an attributable net income of $1.29 billion, while revenues decreased by 21 percent to $1.78 billion from $2.27 billion.

While we acknowledge the potential of COIN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.