{"id":20268,"date":"2023-04-26T18:19:17","date_gmt":"2023-04-26T18:19:17","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/hc-wainwright-analyst-sees-upside-to-75\/"},"modified":"2023-04-26T18:19:17","modified_gmt":"2023-04-26T18:19:17","slug":"hc-wainwright-analyst-sees-upside-to-75","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/hc-wainwright-analyst-sees-upside-to-75\/","title":{"rendered":"HC Wainwright analyst sees upside to $75"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/04\/piggybank-olru6x88cgI-unsplash-1-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/04\/piggybank-olru6x88cgI-unsplash-1-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/04\/piggybank-olru6x88cgI-unsplash-1-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/04\/piggybank-olru6x88cgI-unsplash-1-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>H.C. Wainwright analyst initiates Coinbase with a \u201cbuy\u201d rating.<\/li>\n<li>Mike Colonnese explained his bullish view in a research note.<\/li>\n<li>Coinbase stock has lost about 35% in just over a month.<\/li>\n<\/ul>\n<p>A 35% pullback in <a href=\"https:\/\/coinjournal.net\/exchanges\/coinbase\/\">Coinbase Global Inc<\/a> over the past month is \u201coverdone\u201d and a recovery is coming soon, says Mike Colonnese \u2013 an H.C. Wainwright analyst.<\/p>\n<h2>Buy Coinbase stock for a 35% return<\/h2>\n<p>On Wednesday, Colonnese recommended that investors buy shares of the world\u2019s second-largest and one of the <a href=\"https:\/\/coinjournal.net\/compare\/best-cryptocurrency-exchanges\/\">best cryptocurrency exchange<\/a> as they had upside to $75 \u2013 a 35% premium on its current price.<\/p>\n<p>The analyst is bullish on Coinbase stock for one simple reason that rewards currently outweigh the risks.<\/p>\n<blockquote>\n<p>Coinbase is uniquely positioned to benefit from large and rapidly growing crypto economy given its trusted brand, easy to use products, and focus on compliance and regulation.<\/p>\n<\/blockquote>\n<p>Coinbase has a footprint in 100 countries and is serving about 8.3 million active users, which, Colonnese wrote, is scale enough for it to expand its market share this year.<\/p>\n<h2>Why else is he bullish on Coinbase stock?<\/h2>\n<p>Coinbase is expected to report its Q1 results next week. <a href=\"https:\/\/www.nasdaq.com\/market-activity\/stocks\/coin\/earnings\" target=\"_blank\" rel=\"noopener\">Consensus<\/a> is for it to lose $1.36 a share this quarter versus $1.98 per share a year ago.<\/p>\n<p>The H.C. Wainwright analyst is convinced that the crypto winter is over and the subsequent increase in trading volume will be a catalyst for the company\u2019s operating performance. His <a href=\"https:\/\/hcwco.bluematrix.com\/sellside\/EmailDocViewer?encrypt=2b411f55-2386-4e7f-8f86-4cf9037b824d&amp;mime=pdf&amp;co=Hcwco&amp;id=jayson.derrick@investoogroup.com&amp;source=mail\" target=\"_blank\" rel=\"noopener\">research note<\/a> added:<\/p>\n<blockquote>\n<p>COIN is a scarce asset, as the only publicly listed crypto native company in the U.S. with a market cap &gt;$10B, which means competition for investor capital is extremely limited.<\/p>\n<\/blockquote>\n<p>Earlier this week, Coinbase sued the <a href=\"https:\/\/www.cnbc.com\/2023\/04\/24\/coinbase-sues-sec-after-months-of-silence-from-federal-regulator.html\" target=\"_blank\" rel=\"noopener\">Securities and Exchange Commission<\/a> after waiting for months to get an answer on its July 2022 petition. Regulatory clarity in the future will also help drive the Coinbase stock up, Colonnese concluded.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/coinbase-stock-outlook-analyst-upside-75\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) H.C. Wainwright analyst initiates Coinbase with a \u201cbuy\u201d rating. Mike Colonnese explained his bullish view in a research note. Coinbase stock has lost about 35% in just over a month. A 35% pullback in Coinbase Global Inc over the past month is \u201coverdone\u201d [&hellip;]<\/p>\n","protected":false},"author":30,"featured_media":20269,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/20268"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/30"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=20268"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/20268\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/20269"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=20268"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=20268"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=20268"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}