.GoldmanSachs still sees coinbase as the best stock for gaining exposure to growth in the crypto markets. By willcanny99
Jan 27, 2022 at 12:00 p.m. UTCShares of Coinbase have fallen around 45% after earnings alongside a similar sized fall in crypto market cap, due to expectations of higher interest rates and the selloff in “longer duration, high growth related assets,“ Goldman Sachs said in a research note published on Wednesday.
Despite the recent volatility in the crypto market, Goldman remains buy-rated on Coinbase shares and continues to see a number of new potential revenue streams. Goldman cut its 12-month price target to $288 from $352, to account for lower crypto prices and a daily average run-rate for volumes of around $4 billion in Q1.