Is Coinbase Global, Inc. (COIN) A Good Stock To Buy Now?
Coinbase Global, Inc. has diversified its revenue streams beyond trading fees, with subscription and services revenue growing at 53% CAGR since 2021. The company's transition towards recurring revenue has positioned it as a crypto financial infrastructure provider, with a base-case DCF target of $245.
Coinbase Global, Inc. (Nasdaq: COIN) has evolved into a diversified financial infrastructure platform, serving over 100 million users and becoming the largest custodian of Bitcoin globally. Founded in 2012 by Brian Armstrong, COIN's share was trading at $211.63 as of April 20th. The company's revenue has diversified beyond trading fees, with subscription and services revenue growing at 53% CAGR since 2021. Coinbase has solidified trust and compliance advantages, becoming the custodian for over 80% of U.S. Bitcoin and Ethereum ETFs. With a transition toward recurring subscription, custody, and stablecoin revenue, the company is increasingly positioned as a crypto financial infrastructure provider. Coinbase's valuation reflects growth potential, with a base-case DCF target of $245.
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