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Over the last few years, we've put out a number of articles on Coinbase (NASDAQ:COIN), consistently calling the stock a 'Buy':
This is due to the fact that we see the crypto space growing in importance over the
Wall Street Is Missing Coinbase's Leverage To The Next Supercycle (Rating Upgrade)
Summary
- Coinbase's stablecoin revenue has grown considerably in recent years.
- With institutional adoption on the horizon, the stock has considerable exposure to a new kind of institutional investment cycle, one focused on crypto's payment rails.
- Trading at only 18x Adjusted EBITDA, (as a run-rate) we think the stock appears quite reasonably priced.
- We're upgrading COIN to a 'Strong Buy'.
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Analyst’s Disclosure:I/we have a beneficial long position in the shares of COIN either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
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