(TheFly) Oppenheimer analyst Owen Lau increased the company’s price target on Coinbase to $444, keeping an Outperform rating on the firm’s stocks.
The analyst expects that a record first quarter, Coinbase is likely to record increased gains in quarter two.
Lau estimates Coinbase will show an improvement in the third quarter, thanks to increased trading volume, revenue, verified users, and monthly trading users (MTUs).
Going forward, the analyst believes Coinbase’ management will strategically expand contributions from the recurring revenues and altcoins.
COIN dips -5.37%.
