Coinbase shares rise to 52-week high of $343.61 amid crypto boom From Investing.com

Coinbase Global (NASDAQ:) Inc. stock has hit a new 52-week high, trading at $343.61, as the cryptocurrency market sees a surge in investor interest. With a hefty market cap of $82.85 billion, data from InvestingPro shows that the stock has delivered an impressive year-to-date return of 90.28%. The leading cryptocurrency exchange’s share price has skyrocketed, registering a significant increase of 145.81% over the past year, supported by robust revenue growth of 90.33%. This impressive achievement highlights the growing mainstream adoption of digital currencies and the platform’s success in capitalizing on increased trading activity. Coinbase’s rise to this 52-week high represents a milestone for the company and underscores the bullish sentiment surrounding the crypto industry as a whole. InvestingPro subscribers have access to 14 additional exclusive insights and a comprehensive Pro Research Report that provides a detailed analysis of COIN’s valuation and growth prospects.

In other recent news, the surge above $100,000 sparked significant gains in cryptocurrency-related stocks. Companies like Riot Platforms (NASDAQ:), MARA Holdings, Bit Digital, and MicroStrategy, known for their significant Bitcoin holdings, all saw their stocks rise significantly. This rally is attributed to President-elect Donald Trump’s pro-crypto stance and his decision to appoint Paul Atkins as the new chairman of the Securities and Exchange Commission (SEC), replacing Gary Gensler.

Oppenheimer, a well-known investment firm, increased its price target on Coinbase Global Inc., a major cryptocurrency exchange, from $265.00 to $358.00 while maintaining its Outperform rating on the stock. This adjustment follows recent political developments, including Donald Trump’s election victory and the Republican Party’s majority gain in both the House of Representatives and the Senate. These policy changes are seen as favorable for the cryptocurrency industry.

Despite a rare sales decline in the third quarter of 2024, HC Wainwright adjusted its price target on Coinbase Global Inc., lowering it to $255 from $265 previously, but maintaining a Buy rating on the stock. Coinbase’s effective cost management resulted in operating costs at the lower end of the forecast range and the company achieved positive Adjusted EBITDA for the seventh consecutive quarter.

On the other hand, Lucid (NASDAQ:) Capital Markets initiated coverage on CION Investment Corporation with a Buy rating and set a price target of $13.50. The company’s analysis assumes the company is trading at 85% of its forecast year-end 2025 net asset value (NAV), which is estimated at $15.87. This outlook is based on reduced nonaccrual rates and represents an attractive risk-reward scenario given the stock’s current discount valuation.

Finally, despite a challenging third quarter in 2024, Monness, Crespi and Hardt maintained their Buy rating on Coinbase Global Inc. stock with a stable price target of $245.00. The company’s analyst highlighted that Coinbase’s board of directors approved a $1 billion share repurchase program, reflecting confidence in the company’s strategic positioning in the cryptocurrency sector.

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