Coinbase-Citi Deal Reignites Valuation Debate
Coinbase Global (COIN) is back in focus after partnering with Citi to connect its crypto payments rails to Citi's Virtual Account Wallet and Spring by Citi platforms.
The deal comes as the company's share price has experienced a mixed stretch, with COIN down 4.61% over the past week but still showing a 31.19% 90-day share price return.
This near-term pullback is part of a larger trend, with the 1-year total shareholder return lower by 42.58%, while the 3-year total shareholder return is higher by 154.67%, suggesting momentum has cooled following a strong multi-year period.
The Citi deal and recent share price fluctuations have raised questions about Coinbase's valuation. According to one narrative, COIN is undervalued at $191.79, with a fair value estimate of $247.39.