Benchmark Call Coinbase Q2 Weakness Na Opportunity to Buy
Broker Benchmark believe say di Coinbase Q2 result na just wan small setback wey no go last long. Analyst Mark Palmer still hold im Buy rating with price target of $421, talk five main tins: revenue sharing on USDC stablecoin reserves, expansion of institutional services like prime brokerage, crypto-as-a-service, derivatives before possible CLARITY Act benefits, development of one integrated crypto super app wey dey cover trading, payments, NFTs, DeFi, developer tools, decentralized exchange join-up to make tokens access wider, plus 44% increase for July transaction revenue reach $360 million wey show say market dey recover. After 16.7% drop, Coinbase shares climb 1.8% for early trading. Benchmark talk say all these fundamentals strong for long-term growth, make Coinbase ready to enjoy rise for stablecoin use and institutional demand.
Bullish
Benchmark don confirm sey dem still dey give Coinbase Buy rating plus price target of $421, and plus dem see some growth catalysts wey dey show sey dem get confidence for Coinbase medium to long-term prospects. Before now, similar Q2 earnings dip, wey later followed by better product rollout and more transactions, don always dey lead to shares recovery. The USDC revenue share dem highlight plus new institutional service lines mean say revenue mix go better, while the planned crypto super app plus DEX integration dey put Coinbase for competitive position. Even though short-term wahala fit still dey, these main factors go likely help price move up, wey go make traders get bullish feeling for both near-term come back and long-term growth.