Coinbase Stock Rating Is Now Upgraded By The Goldman Sachs Group To Neutral

Key Points:

• Goldman Sachs upgrades the Coinbase stock rating amidst the Bitcoin surge.
• Retail investors boost Coinbase’s trading to $3–5 billion daily.
• Analysts adjust the Coinbase stock rating to the consensus “Hold” with a $128.19 target.

Wall Street giant Goldman Sachs recently took notice as Bitcoin surged to an all-time high, prompting a pause in trading activity on Coinbase.

Read more: Coinbase Review: Top Trading Platform With Many Supported Features

Goldman Sachs Bullish on Coinbase Stock Rating Amidst The Bitcoin Surge

The daily trading volume, reminiscent of levels last seen in 2021, underscored the fervor surrounding the cryptocurrency market.

In a notable shift, Goldman Sachs adjusted its stance on cryptocurrency exchange Coinbase, upgrading the Coinbase stock rating from sell to neutral. Alongside this adjustment, the bank revised its price target for Coinbase shares to $282 from $170, highlighting the company’s strides toward consistent profitability amid the crypto boom.

With Bitcoin eclipsing $67,000, data reveals that Coinbase’s daily trading volumes hover between $3 billion and $5 billion. Goldman Sachs attributes this surge in activity to increased participation from retail investors, which translates into a more favorable Coinbase stock rating.

Analysts Adjust Ratings as Coinbase Faces Volatility

This assessment aligns with analyses from several other equities analysts, who have also recently weighed in on Coinbase. Citigroup, Wedbush, HC Wainwright, Oppenheimer, and JPMorgan Chase & Co. have all adjusted their price targets and ratings for the company, reflecting the evolving landscape of the cryptocurrency market.

While four analysts maintain a sell rating, seven advocate for holding, and nine endorse buying Coinbase stock, the consensus rating stands at “Hold,” according to MarketBeat. The average price target lands at $128.19, signaling ongoing volatility and investor sentiment in the cryptocurrency sector. As Bitcoin continues its ascent, Coinbase remains a focal point for investors navigating the ever-changing dynamics of digital assets.