Goldman Starts Coinbase With A Buy Rating And Says The Stock Can Jump More Than 30%

Investors should ride through volatility in the crypto space by buying shares of Coinbase, according to Goldman Sachs.

Analyst Will Nance initiated coverage of the cryptocurrency exchange on Monday with a buy rating, saying in a note to clients that Coinbase is the best way to gain exposure to cryptocurrency ecosystems.

Coinbase went public through a direct listing on April 14 and, after an initial pop, its shares have struggled. The stock rose above $400 during that first day of trading, but on Friday closed near $224.

– CNBC