BofA Hikes Price Targets for Robinhood and Coinbase
Bank of America has raised its price targets for Robinhood and Coinbase, the two companies' shares gained in morning trade after the announcement.
The analyst Craig Siegenthaler increased the price target on Robinhood to $156, up from $140, and maintained a 'Buy' rating. He also raised the price target on Coinbase to $203, up from $174, also with a 'Buy' recommendation.
However, Siegenthaler cut eToro's target to $39 from $46 and maintained a 'Neutral' rating.
Roland Hood stock is down more than 20% over the past year, while Coinbase and eToro have fallen nearly 50% and 40%, respectively.
Robinhood is expected to report third-quarter earnings of $0.64 per share on revenue of $1.4 billion, while Coinbase is expected to report a third-quarter loss of $0.20 per share on revenue of $1.77 billion.
eToro is expected to report third-quarter EPS of $0.40 on revenue of $203 million.
The average analyst price target stands at $132.79 for Robinhood, $207.85 for Coinbase, and $47.60 for eToro.