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Coinbase Global Inc (NASDAQ: COIN) is off to a strong start following last month’s IPO, and one analyst said Monday the stock is just getting started.
The Analyst: Oppenheimer analyst Owen Lau initiated coverage of Coinbase with an Outperform rating and $434 price target.
The Thesis: In the initiation note, Lau said Coinbase is not just a cryptocurrency exchange, it’s a “platform for digital asset innovation.” He said the stock is well-positioned to capitalize as digital assets are becoming more mainstream over time given cryptocurrency addresses some problems in the current financial system.
Lau said Coinbase can leverage its trading business to support innovation and growth. He highlighted several reasons to like Coinbase as a core cryptocurrency investment, including its deep liquidity pool, valuable brand, focus on regulatory compliance and track record of security.
Operator
Good day, everyone, and welcome to the Moody s Corporation First Quarter 2021 Earnings Conference Call. [Operator Instructions]
I will now turn the conference over to Shivani Kak, Head of Investor Relations. Please go ahead.
Shivani Kak
Head of Investor Relations
Thank you. Good morning, and thank you for joining us to discuss Moody s first quarter 2021 results and our revised outlook for full year 2021. I m Shivani Kak, Head of Investor Relations. This morning, Moody s released its results for the first quarter of 2021 as well as our outlook for full year 2021. The earnings press release and a presentation to accompany this teleconference are both available on our website at ir.moodys.com. Rob Fauber, Moody s President and Chief Executive Officer, will lead this morning s conference call. Also making prepared remarks on the call this morning is Mark Kaye, Moody s Chief Financial Officer. During this call, we will also be presenting non-GAAP or adjusted figures. Plea
Markets
In a report released today, Owen Lau from Oppenheimer maintained a Hold rating on CME Group (CME – Research Report). The company’s shares closed last Wednesday at $201.26.
According to TipRanks.com, Lau is a 4-star analyst with an average return of 14.3% and a 84.8% success rate. Lau covers the Financial sector, focusing on stocks such as Intercontinental Exchange, Victory Capital Holdings, and Focus Financial Partners.
Currently, the analyst consensus on CME Group is a Moderate Buy with an average price target of $212.67.
CME Group’s market cap is currently $73.53B and has a P/E ratio of 34.90. The company has a Price to Book ratio of -11.27.