Despite these positive catalysts, the bank maintained its sell rating on Coinbase shares and its price target of $51, citing weakness in the core business. “ We remain sell rated as we believe the profitability profile is likely to remain weak given the depressed trading environment and the company’s target for roughly breakeven margins over the intermediate term,” the bank’s analysts wrote.
Crypto Exchange Coinbase to Benefit Near-Term from Staking Revenues After Ethereum Merger, Goldman Says
