Coinbase Global Maintains Hold Rating Amid Ongoing Market Volatility

Argus Reaffirms 'Hold' Rating for Coinbase Global (NASDAQ:COIN)

The cryptocurrency exchange platform, Coinbase Global, has had its 'hold' rating reaffirmed by Argus in a recent research note. This is not the only prediction for COIN's future; other firms have also weighed in. Benchmark lowered their target price on shares of Coinbase Global from $270.00 to $230.00 and set a 'buy' rating, while Citizens Jmp cut their price target on Coinbase Global from $355.00 to $325.00 and set a 'market outperform' rating.

Average analyst predictions put the stock's consensus price at $215.90. Eighteen analysts have rated COIN with a Buy rating, nine have issued a Hold rating, and five have assigned a Sell rating. The company has a current market cap of $48.46 billion and a beta of 3.36.

COIN's stock price has fluctuated in recent months; it opened at $183.69 on Wednesday. This is not the first time the company has been under scrutiny, with investors awaiting news from various sources, including the US personal-consumption-expenditures inflation report and legal developments surrounding a federal judge's decision to allow a Coinbase investor class action to proceed.