Barclays upgrades Coinbase and Robinhood ratings, citing mature business models
According to CoinDesk, British banking giant Barclays has raised the ratings of cryptocurrency exchange Coinbase (COIN) and online brokerage Robinhood (HOOD) from "underweight" to "neutral", citing that the two companies have better business models. Barclays analyst Benjamin Budish believes that both companies have "significantly matured", particularly due to their product expansion and more positive financial outlook.
Barclays' report points out that, given the increasingly friendly stance of both US presidential candidates towards the digital asset industry and the approval of multiple cryptocurrency spot exchange traded funds (ETFs), Coinbase can particularly benefit from a more favorable regulatory environment. The analyst wrote:
Although we still see risks facing Coinbase, we believe that the improved environment, profit and loss situation, gradual and sustained diversification, clear industry leadership position in the United States, and recent stock price performance all point to a more balanced risk/reward, so we have adjusted it to 'neutral'
The report points out that although the cryptocurrency industry has experienced many challenges in the past two years, Coinbase has continued to demonstrate resilience. Budish praised the company for effectively maintaining low costs, especially those related to employees, despite the growth in activities in 2024. He also mentioned the diversification of Coinbase's revenue sources, although most of the revenue still relies mainly on transaction fees and interest income, the exchange has begun to see other areas of business becoming meaningful sources of contribution, including in memory blockchain rewards, custody income, and other transaction fees.
However, analysts warn that although many things about Coinbase seem to be moving in the right direction, there is still uncertainty in the field, including a broader macroeconomic environment and unclear regulation, involving whether several assets belong to securities, and the Securities and Exchange Commission's (SEC) unresolved lawsuit against Coinbase.
The analyst also believes that there is a similar positive development in Robinhood's business model, which may bring about future upside potential. The main factors for his positive stance include new products, Robinhood's expansion in the UK and Europe, and the acquisition of new potential customers from Bitstamp.
Barclays said, "The factors that prompted us to make a downgrade rating are gradually improving, and we now believe that the risk/return ratio of these two stocks is more balanced
(责任编辑:经济时评)
- ·提取住房公积金会影响公积金贷款吗?不是很了解。
- ·4 张图了解美国降息下比特币的价格趋势
- ·武汉公积金贷款新政策有哪些?想办理公积金贷款买房,了解一下政策。
- ·公积金贷款逾期一次-公积金贷款逾期一次会有什么后果
- ·美国游客在伦敦遭遇假Uber司机盗窃,损失价值超12万美元加密货币
- ·风什么曰什么关于天气
- ·比特币维持看涨趋势:分析师称上升通道与超级趋势支撑位保持强劲
- ·深圳冬天穿什么衣服-深圳冬天穿什么衣服可以过冬
- ·常用的挖矿软件下载
- ·继美国GENIUS之后,香港通过的稳定币法案有何新看点?
- ·降息落地比特币是涨是跌,交易员们怎么看?
- ·比特币大的交易平台
- ·我一直用微信交易转帐为什么没有微粒贷?
- ·本期盈余年末怎么结转
- ·股票委托查询-股票委托查询什么意思
- ·比特币长期持有者是否开始大规模抛售?链上数据分析揭示真相
- · 数字货币交易所
- · 数字货币交易平台app
- · okx交易所app官网
- · okx交易所app官网链接
- · 欧易开户
- · okx网页版
- · 加密货币交易所
- · 欧易交易所 电脑
- · 虚拟货币交易平台有哪些