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Coinbase's Bull Run Rip

COIN stock continues its 2024 tear.

Jack Inabinet
Feb 16, 2024 • 2 min read

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Coinbase released its Q4 2023 earnings report yesterday, crushing analyst expectations and sending COIN ripping upwards by over 12% in after-hours trading. What did the earnings call reveal?

Just prior to the earnings release yesterday, investment bank JPMorgan upgraded COIN from underweight to neutral with a price target of $80. The bullish ratings adjustments have continued to trickle in today, with a host of financial services companies raising their price targets after Coinbase’s $1.04 in earnings per share outperformed Wall Street’s estimates by 290%!

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Written by Jack Inabinet

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Jack Inabinet is a Senior Analyst with a passion for exploring the bleeding edge of crypto and finance. Prior to joining Bankless, Jack worked as an analyst at HAL Real Estate where he conducted market research and financial analysis for commercial real estate development and acquisition activities in the Seattle region. He graduated from the University of Washington’s Michael G. Foster School of Business.