Coinbase's stock, trading at approximately $165, has dropped 35.6% year-to-date, performing worse than Bitcoin and the Nasdaq Composite Index, which are down 13.6% and 15.2%, respectively. Despite this decline, analysts at Cantor Fitzgerald have issued a buy rating for Coinbase with a price target of $245. They foresee a significant growth moment for Web3, emphasizing Coinbase's integral role in the crypto ecosystem, particularly due to robust user growth on its layer-2, Base, and the potential increase in stablecoin revenue.Approximately $910 million in stablecoin revenue is expected in 2024 as traditional payment systems are challenged. Morningstar analyst Michael Miller views Coinbase's shares as slightly undervalued, although they remain sensitive to crypto market fluctuations. Other crypto-related stocks like MicroStrategy and Marathon Digital have also seen losses, while Robinhood's stock value has remained stable since the year's start, reflecting the varied impacts of market conditions on these investments.

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