Analyst at Berenberg Capital Markets Addresses Coinbase

It seems that an important analyst has something to say about Coinbase. Check out the latest reports about he crypto exchange below.

A new broker-dealer has started covering Coinbase, and the analyst addresses the ways in which the company will adapt to its surroundings.

Blockworks online pubclaition mentioned the fact that that Investors should be paying attention to how the exchange could look to pivot amid regulatory uncertainty as well, according to Berenberg Capital Markets Analyst Mark Palmer.

The crypto exchange’s “better-than-expected” first quarter results proved it is positioned to weather the so-called crypto winter. The data is according to a Monday research note authored by Palmer and associate Hassan Saleem.

Coinbase also had $5.3 billion of available cash, as of March 31, they added.

“However, we also believe investors should be focusing on whether the company would have the ability to successfully pivot its business model and geographic focus if it were forced to curtail or cease a large portion of its activities in the US as a result of an SEC enforcement action that appears likely to occur soon,” Palmer and Saleem wrote.

The same online publcaition mentioend above notes that Berenberg set its price target for Coinbase at $55 and gave it a hold rating.

The other day, we revealed the fact that the COinbase execs managed to seek shelter during crypto winter, according to the latest reports coming from Blockworks.

“Crypto lost a whopping $1.6 trillion off of its total market cap in 2022, but that didn’t stop Coinbase executives from raking in cash,” a new article begins.

According to an SEC filing – with the exception of chief financial officer Alesia Haas – Coinbase’s executives walked away with more money in their pockets in 2022 than the year before.

The same notes reveal the fact that CEO Brian Armstrong “made a total of $7.4 million last year, though $6.3 million of that total figure went to personal security costs.”