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

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.

Interpretation of this information:

JPMorgan Chase released a research report on February 22nd, detailing Coinbase’s adjusted loss per share (EPS) in the fourth quarter. The EPS was $2.46, which was higher than the bank’s expected loss per share of $2.85, but lower than Bloomberg’s expected loss per share of $2.17. Despite this, JPMorgan Chase maintained a neutral rating on Coinbase, although it did raise the target price from $52 to $57. As of the time of the press release, Coinbase’s share price fell 1.5% to $61.16 in pre-market trading.

This report reveals that Coinbase’s fourth quarter results were not as bad as expected, with the adjusted loss per share coming in slightly better than Bloomberg’s predictions. However, JPMorgan Chase still maintains a neutral rating on the company, suggesting that they do not see significant potential for growth or improvement in the near future. Despite raising the target price slightly, this neutral rating may cause some investors to be hesitant about investing in Coinbase.