The long-term trajectory looks attractive for Coinbase, even as the company grapples with a 'crisis of confidence,' according to Oppenheimer.
The long-term trajectory looks attractive for Coinbase , even as the company grapples with a "crisis of confidence" amid FTX's implosion, according to Oppenheimer. "While painful near term, Coinbase can be one of the few long-term survivors in this space, which we think makes it attractive," wrote analyst Owen Lau in a note to clients Monday.
Coinbase shares seesawed before the bell, attempting to build on a 15% jump Monday. The company also announced plans Tuesday to cut 20% of its workforce in its second major round of layoffs as it attempts to trim costs. The firm's $72 price target implies 88% upside from Monday's close. The stock's already up more than 8% since the start of 2023.
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