Share this article
Coinbase Bear Thesis Is ‘Way Overblown,’ Oppenheimer Says
At least one bank analyst says COIN’s sagging stock price is an opportunity to buy the dip.
Updated May 11, 2023, 7:17 p.m. Published Apr 18, 2022, 3:46 p.m.
The bearish outlook against Coinbase (COIN) is “way overblown,” Oppenheimer equity analyst Owen Lau told clients in a Monday research note.
- Bearish points towards Coinbase, the Oppenheimer note says, include the notion that the crypto exchange is facing higher competition and fee compression, that its stock is being overvalued and that a lack of profitability this year is cause for concern.
- Oppenheimer noted that the longer-term trend of crypto adoption is overlooked by the bears. Meanwhile, on profitability, Lau said Coinbase can reduce its investment plans under a “material slowdown” scenario.
- The analyst sees pending positives from global expansion, derivatives trading and the launch of Coinbase’s non-fungible token (NFT) segment.
- Lau maintained an “outperform” recommendation but lowered Oppenheimer’s COIN price target from $377 to $314.
- Goldman Sachs recently said it sees Coinbase posting total Q1 trading volumes of $302 billion, a sizable decline from $547 billion in Q4.
- COIN is trading hands at $142 at press time.
Read more: Coinbase’s NFT Strategy Questioned by Mizuho Analyst
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
VanEck's new Avalanche ETF filing to include staking rewards for AVAX investors
The fund will use Coinbase Crypto Services as its initial staking provider and pay a 4% service fee, with rewards accruing to the fund and reflected in its net asset value.
What to know:
- VanEck has updated its filing for an Avalanche ETF, VAVX, to include staking rewards, aiming to generate income for investors by staking up to 70% of its AVAX holdings.
- The fund will use Coinbase Crypto Services as its initial staking provider and pay a 4% service fee, with rewards accruing to the fund and reflected in its net asset value.
- If approved, the fund will trade on Nasdaq under the ticker VAVX, tracking AVAX's price via a custom index, and will be custodied with regulated providers, including Anchorage Digital and Coinbase Custody.
Top Stories
