Coinbase (Coin) finished 2024 with a very strong commercial impulse as the wider digital asset industry improved, said the JMP corridor in a research report on Thursday after the results of the fourth quarter of Exchange Crypto.
JMP raised its coinbase price objective to $ 475 of $ 400 and reiterated its higher market rating. The shares fell 1.3% to $ 294.30 in early negotiation, after increasing 8.4% on Thursday.
Wall Street may be underestimating the company’s prospects, said JMP.
“Nothing has yet been seen,” wrote the analysts led by Devin Ryan, and if the “transaction rhythm continues, the income of the 1T25 would exceed the current street consensus in almost 30%.”
There is a “seismic change” in the industry, according to the report, and the positive impulse of cryptographic exchange does not reflect some of the changes that are still to come.
JMP expects great growth for coinbase and estimates that the company will be multiples of its current size in the next five years.
“The regulatory and legislative backdrop now supports Crypto’s next chapter,” the report added.
Read more: Public coinbase $ 2.27b in revenue of the fourth quarter, which blows through $ 1.84b estimated
