Coinbase Global, Inc. COIN shares are volatile on Friday amidst increased activity in the overall crypto market.
What To Know:
On Thursday, a U.S. judge ruled that Ripple XRP/USD sales do not constitute an offer of investment contracts. Several crypto tokens surged following the court's decision, including Bitcoin BTC/USD, Ethereum ETH/USD and Ripple XRP/USD.
Coinbase relisted Ripple (XRP) on its exchange after the decision was announced, and COIN shares gained more than 35% on Thursday.
On Friday, Wedbush analyst Moshe Katri maintained Coinbase with a rating of Outperform and raised the COIN price target from $75 to $110.
Coinbase Global will release its second quarter financial results after market close on August 3 and will hold a question and answer session to discuss the results at 5:30 p.m. ET the same day.
Related News: What's Going On With Nvidia Stock Friday?
COIN Price Action: According to data from Benzinga Pro, Coinbase shares are trading 1.53% higher at $108.63 at the time of publication.
Image: WorldSpectrum from Pixabay
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
