COIN Analysts Maintain Skepticism Even as Second-Quarter Earnings Beat Estimates

“Finally, we battle to see a positive valuation argument for the inventory on condition that the corporate’s income base is tethered to an asset class that has but to indicate a sustainable on a regular basis utility worth, in addition to the numerous ranges of inventory based mostly comp, regardless of being worthwhile on an adjusted foundation,” Goldman Sachs analysts led by Will Nance wrote. “Till we see proof of mass adoption of crypto for on a regular basis utility, we consider fundamentals will stay challenged,” the analysts wrote.