Analyst Increases Price Forecasts for Coinbase and Robinhood Stocks Amid Surge in Cryptocurrency Trading Activity

Despite the monumental surge in cryptocurrency values this year, many investors remained on the sidelines, leading to comparatively low trading volumes on platforms such as Coinbase Global and Robinhood Markets, despite Bitcoin scaling new peaks. On Monday, Needham & Co. analyst John Todaro updated his price target for Coinbase, lifting it from $375 to $420, and for Robinhood from $40 to $52, maintaining a Buy recommendation for both entities. On the same day, Robinhood’s stock fell by 4.6%, closing at $39.77, and Coinbase’s stock experienced a 6.9% decline, ending at $319.97.