Leading financial services firm Goldman Sachs shared its prediction about the Coinbase earnings in the second quarter of 2021.
Related: Goldman Sachs Says Eth Can Be the N1 Digital Store of Value
The bank's analysts included the exchange in the leading 25 tactical trades. This is a management style where the focus is generally on trends rather than long-term fundamental analysis.Goldman cited a "buy" rating for Coinbase's stock symbol "COIN". The research shows that the current crypto crash could actually help the company to boost its profit. Coinbase's trading volume increased and in a situation when crypto-assets see large volatility, the company can benefit via fees. Goldman Sachs's VP Will Nance noted that even if the BTC price continues to be low, enthusiasts will pay high fees to trade. This will be beneficial for the exchange.
Nance finds that although COIN’s shares went down over 25% from their absolute high, they could go up again in the next quarters.
Coinbase was listed on the stock market Nasdaq on April 14. For the public listing, Coinbase used Goldman Sachs, J.P. Morgan Securities, and Citigroup to “assist us with respect to certain matters relating to our listing.”Currently, COIN trades at about $229.94. The company will report its Q2 results later today.