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Coinbase Global Upgraded to 'Hold' Rating Despite Earnings Miss

Guavy AI Editorial Team
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Coinbase Global (NASDAQ:COIN) has been upgraded from a 'strong sell' rating to a 'hold' rating by equities research analysts at Zacks Research.

The company's stock opened at $172.28 on Wednesday, with a market capitalization of $45.45 billion and a price-to-earnings ratio of -44.86.

Despite the upgrade, Coinbase Global has faced challenges in recent quarters, including an earnings and revenue miss in its latest reported quarter.

The company's CEO, Brian Armstrong, has expressed confidence in stablecoin payments fueling growth, projecting significant expansion in the market by 2030.

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