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JPMorgan Chase’s Assessment of Coinbase’s Fourth Quarter Results

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On February 22, JPMorgan Chase said in a research report on Tuesday that the adjusted loss per share (EPS) of Coinbase (COIN) in the fourth quarter was $2.46, …

JPMorgan Chases Assessment of Coinbases Fourth Quarter Results

On February 22, JPMorgan Chase said in a research report on Tuesday that the adjusted loss per share (EPS) of Coinbase (COIN) in the fourth quarter was $2.46, which was higher than JPMorgan Chase’s expected loss per share of $2.85, but lower than Bloomberg’s generally expected loss per share of $2.17. The bank raised the target price of Coinbase from $52 to $57, but maintained a neutral rating. As of the time of press release, the share price of Coinbase fell 1.5% to US $61.16 in pre-market trading.

JPMorgan Chase: raised the target price of Coinbase from $52 to $57, but maintained the neutral rating

Interpretation of the news:


JPMorgan Chase released a research report on February 22, providing its assessment of Coinbase’s fourth-quarter results. The bank noted that the adjusted loss per share (EPS) of the cryptocurrency exchange was $2.46, which was higher than JPMorgan Chase’s expected loss per share of $2.85, but lower than Bloomberg’s generally expected loss per share of $2.17. Despite falling short of Bloomberg’s expected figures, JPMorgan Chase expressed an optimistic outlook for Coinbase and raised the target price from $52 to $57.

However, JPMorgan Chase maintained a neutral rating on Coinbase, presumably due to the underwhelming Q4 results. As of the time of the press release, the share price of Coinbase fell 1.5% to US $61.16 in pre-market trading. This may have been a reaction to the adjusted EPS and neutral rating from JPMorgan Chase, despite the raised target price.

One interpretation of this message is that JPMorgan Chase sees potential in Coinbase, demonstrated by its increased target price. The bank likely looks favorably at Coinbase’s growth and market positioning in the cryptocurrency space. However, it also acknowledges that the company’s Q4 results fell short of expectations. This could indicate that JPMorgan Chase wants to see more consistency in Coinbase’s financial performance before fully committing to a positive rating.

Overall, this message suggests that JPMorgan Chase is cautiously optimistic about Coinbase’s future prospects. While it raised the target price, it still maintained a neutral rating, indicating that it wants to see more evidence of the company’s performance before fully endorsing it. Additionally, the pre-market share price decrease may suggest that investors are concerned about the Q4 results and the neutral rating.

In summary, this message provides insight into JPMorgan Chase’s perspective on Coinbase and its financial performance in Q4. It highlights the adjusted EPS, target price, and rating given by the bank, while also showing the market’s response to this news.

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