KBW Analyst Rates Coinbase Buy with $237 Target Price
KBW analyst Tim Switzer has initiated coverage of Coinbase (COIN.US) with a Buy rating and set a target price of $237. This marks a positive start for the cryptocurrency exchange platform under Switzer's analysis.
According to data from TipRanks, Switzer has a success rate of 66.9% and an average return of 12.1% over the past year. TipRanks is an independent platform that evaluates financial analysts based on their past performance and recommendations.
The success rate reflects the number of successful ratings divided by the total number of ratings over the past year. A successful rating is determined by whether TipRanks' virtual portfolio earned a positive return from the stock. The total average return measures the average rate of return the virtual portfolio has earned based on the analyst's recommendations.
TipRanks also ranks analysts on a scale of 1 to 5 stars, with Switzer's performance evaluated based on his success rate and average return. The information provided is not an investment recommendation but is intended for informational purposes only.