Coinbase Global Inc. ($COIN) experienced a notable stock price recovery following a downgrade to around $230 in overnight trading after a previous drop from $300 attributed to increased volatility amid global issues and tariffs. Monness Crespi upgraded Coinbase to a Buy rating with a price target of $300, citing conservative second-quarter guidance and strong asset performance. This upgrade contributed to a swift rebound, with the stock price approaching $250 and hitting that target shortly thereafter. Additionally, analyst alerts highlighted substantial gains in Coinbase options, with a 536% increase in a specific call option. The positive momentum in Coinbase shares coincided with other market upgrades, including Caterpillar ($CAT) and Peloton ($PTON), reflecting improved fundamentals and positive outlooks in their respective sectors.
Just in: Peloton $PTON upgraded at Macquarie, citing positive outlook. Coinbase $COIN also upgraded by Monness Crespi with a conservative Q2 guidance. #StockMarket #Investing
$COIN Update 🔥 No stopping this Beast!! 250 target also met Trade $CONL Leverage ETF Check Swing Chart at @TenetCharts Live Guidance @TENETTRADEGROUP https://t.co/XUyiz8vDOb
$COIN Almost back to $250 in a quick heart beat. Beautiful recovery ongoing