Devin Ryan, an analyst at JMP Securities, suggests that long-term investors should consider buying shares of Coinbase Global Inc (NASDAQ: COIN) following its post-earnings decline. Despite falling short of earnings estimates and offering muted revenue guidance for the current quarter, Ryan believes that nothing structurally negative occurred. He points out that Bitcoin's recent rally of close to 20% could potentially lead to upward pressure on Coinbase's fourth-quarter revenue. He also expects the upcoming US elections in 2024 to be a positive factor for Coinbase, particularly if polls indicate a Trump presidency, as Trump is seen as favoring the crypto industry. JMP Securities maintains its "buy" rating on Coinbase stock, with a price target indicating a potential 75% upside. Ryan also recommends investing in Robinhood Markets Inc on its post-earnings weakness. Despite reporting a decline in subscription and services revenue, Coinbase's CEO Brian Armstrong remains optimistic, expecting a strong year for the crypto market regardless of the election outcome. Q3 marked the fourth consecutive quarter of positive net income for Coinbase, and many anticipate further growth given the projected rally of Bitcoin in the coming months.



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