2024 will likely be “a more challenging year” for Coinbase Global Inc (NASDAQ: COIN), says Kenneth Worthington – a JPMorgan analyst.Coinbase stock has downside to $80Copy link to sectionWorthington downgraded the crypto company this morning to “underweight” and said its shares could tank to $80 – which suggests more than a 35% downside from here.   BTC is now back under $40,000 even though the Securities & Exchange Commission of the United States approved some eleven applications for Spot Bitcoin ETFs on Ja ...

Here are five stocks added to the Zacks Rank #1 (Strong Buy) List today:Wayfair Inc. (W) : This e-commerce company has seen the Zacks Consensus Estimate for its current year earnings increasing 22.3% over the last 60 days.Kodiak Gas Services, Inc. (KGS) : This compression services company has seen the Zacks Consensus Estimate for its current year earnings increasing 34.1% over the last 60 days.International Consolidated Airlines Group S.A. (ICAGY) : This company which engages in the provision of passenger a ...

Blockchain technology still represents one of the most influential and disruptive trends to emerge from the tech sector. That said, many investors may view the scene as less investable than some of the more exciting themes that have popped up in recent years. Undoubtedly, AI (artificial intelligence) is the hot tech of the times. And though “blockchain and crypto” tech may be “so 2021,” I’d argue that the field could face a resurgence, even if the magnitude of hype continues trailing AI.Bitcoin (USD-BTC) pr ...

A downtrend has been apparent in Coinbase Global, Inc. (COIN) lately. While the stock has lost 19% over the past two weeks, it could witness a trend reversal as a hammer chart pattern was formed in its last trading session. This could mean that the bulls have been able to counteract the bears to help the stock find support.While the formation of a hammer pattern is a technical indication of nearing a bottom with potential exhaustion of selling pressure, rising optimism among Wall Street analysts about the f ...

Before Jan. 10, the only means of gaining true Bitcoin (BTC -0.33%) exposure was by directly purchasing the cryptocurrency off of an exchange, such as Coinbase Global (COIN 0.33%). But now investors can buy shares of one of 11 newly approved spot Bitcoin exchange-traded funds (ETFs) through conventional brokerages.This has created some concern that the ETFs could jeopardize one of Coinbase's main uses and source of income. However, this assumption fails to paint the full picture. Here's why the ETFs will li ...

The SEC’s suit against Coinbase could be decided in the next three months.The Securities and Exchange Commission (SEC) sued the cryptocurrency firm last year, and Coinbase went to court last week seeking to have that suit dismissed. The judge in that case is likely to make a decision on the dismissal in the next three months, SeekingAlpha reported Sunday (Jan. 21), citing a Citi analyst.“Given the stature of the case, we agree with the notion that this dispute is unlikely to be solved on motions alone — lik ...

Having received a slew of applications on Jan 10, the U.S. Securities and Exchange Commission (“SEC”) finally green-lit the launch of 11 spot Bitcoin ETFs in what can be dubbed a landmark moment for the crypto market. Investors had been expecting this for over six months since late June 2023, when big names from the traditional asset management domain had applied for these ETFs. Coinbase Global, Inc. (COIN) , the financial infrastructure and technology provider, is pitted to be one of the biggest winners in ...

Coinbase (COIN-USD) has become the leading U.S. exchange by trading volume. Over the past 12 months, COIN stock has rebounded by an astonishing 175%. The bullish outlook for 2024 relies on Bitcoin (BTC-USD) surpassing previous highs, with other leading tokens following. Rising crypto prices drive trading volumes, the main source of Coinbase’s revenue and earnings.Certainly, if we see an alt coin rally materialize this year, COIN stock could be an out-performer. That said, given the stock’s year-to-date decl ...

In a Wednesday (Jan. 17) court hearing, cryptocurrency exchange Coinbase Global made a comparison between buying cryptocurrency and collecting Beanie Babies.The comparison was presented as part of Coinbase’s defense against a Securities and Exchange Commission (SEC) lawsuit accusing the company of selling unregistered securities, Bloomberg reported Wednesday.William Savitt, a lawyer for Coinbase, argued that the tokens traded on the exchange should not be considered securities under SEC jurisdiction, accord ...

Coinbase Global, Inc. (COIN) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.Over the past month, shares of this company have returned -16.9%, compared to the Zacks S&P 500 composite's +1.2% change. During this period, the Zacks Securities and Exchanges industry, which Coinbase Global, Inc. falls in, has lost 3.7%. The key question now is: What could be the stock's future direction?Whi ...