Mizuho Upgrades Coinbase (COIN) to Neutral, Raises Price Target to $290

Coinbase Global, Inc. (COIN) shares are trading relatively flat in the premarket session on Wednesday.

Coinbase Global, Inc. (NASDAQ:COIN) shares are hardly exhibiting any directional bias in the premarket session on Wednesday.

Coinbase stock price target was raised by Mizuho analyst Dan Dolev from Underperform to Neutral, with an increased price forecast of $290, up from the earlier estimate of $250.

COIN stock has rallied more than 112% in the past year. Investors interested in gaining exposure to the stock can do so through First Trust SkyBridge Crypto Industry and Digital Economy ETF (NYSE:CRPT).

Coinbase now has the regulatory green light to launch its services in Argentina, a country where an estimated 5 million people use cryptocurrency on a daily basis.

This move is part of Coinbase's broader mission to promote global economic freedom while highlighting the importance of security, regulatory compliance, and user education.

The company has secured a Virtual Asset Service Provider registration from Argentina's National Securities Commission, which will enable Coinbase to operate within the country's legal framework for virtual assets.

Coinbase's expansion in Argentina will be spearheaded by Matías Alberti and will focus on offering localized services, such as Spanish-language support, local payment methods, and tailored customer service.

A key component of this expansion will be Coinbase's emphasis on education. The company plans to launch local initiatives to enhance financial literacy and help users navigate the crypto ecosystem with confidence.

By catering to the specific needs of the Argentine market, Coinbase aims to foster a more inclusive financial future.

The expansion into Argentina is a significant step in Coinbase's mission to drive global crypto adoption and increase economic freedom, all while prioritizing the safety and understanding of its users.

This move also signals Coinbase's growing presence in Latin America, which could pave the way for future growth in the region.

COIN Price Action: COIN shares are trading higher by 0.50% to $283.23 premarket at last check Wednesday.