Share this article
Coinbase Rated 'Overweight' in Initial Coverage by Piper Sandler: Report
Analyst Rich Repetto points to the exchange's expanding market share in a fast-growing industry.
Updated Sep 14, 2021, 12:56 p.m. Published May 14, 2021, 4:34 p.m.
In this article
Investment firm Piper Sandler has rated Nasdaq-listed Coinbase's (COIN) stock at “overweight,” saying the cryptocurrency exchange company is still set to be a leader in the fast-growing crypto industry.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- Piper Sandler analyst Richard Repetto initiated coverage of COIN on Friday, and in a note to clients, he wrote that the exchange has continued to expand its market share, despite the industry's dramatic growth, according to a CNBC report.
- “In our view, COIN is the most scaled play in the crypto space, an asset class that has the potential, in our view, to reshape financial services and the technology underpinning it,” Repetto said, according to CNBC.
- The analyst set a price target of $335 for COIN; at the time of publication Friday, the stock was trading up 0.16% at $265.52.
- “As COIN continues to grow its assets on platform and verified users count through (1) further adoption of crypto by the public and (2) increased market share, we believe Coinbase’s revenue potential has increased in optimal operating environments and raised their operating floor in subdued, non-volatile, markets,” Repetto aid.
- The rating comes a day after the exchange boosted its forecast range for active users in 2021 while reporting first-quarter results that matched its previous estimate.
- Coinbase’s shares started trading last month on the Nasdaq in a direct listing. The stock opened at $381 and shot up to almost $430 during its first day.
Read more: Oppenheimer Rates Coinbase Stock as ‘Outperform,’ Sets Price Target of $434
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
BNB tops $870, outperforming crypto majors as volume surges
Market participants are watching whether BNB can hold above $870 and challenge resistance at $880, with a break higher potentially targeting $900.
What to know:
- BNB rose 2.5% to $872, outperforming the broader market which gained 1.4%.
- The token's action showed higher lows and sustained gains, and increased trading volume.
- Market participants are watching whether BNB can hold above $870 and challenge resistance at $880, with a break higher potentially targeting $900.
Top Stories
