Goldman Sachs Shock Has Coinbase Traders Braced For $196

"The problem is mostly the analyst just moves targets with their price," Charan Dangeti, a finance content creator, said in an interview. As an example, Dangeti suggests “when stock goes down, like Citi, they lower their Micron target when it went down 10%. And then they increase it when it goes up."

"That's the problem with all these targets. Right? It's kind of, I think, there's some bias involved when they make their targets and I mean, I don't think they're the most honest way to do it," said Dangeti, a paid creator partner of paper trading app GameStock.

Goldman Sachs raised its price target on Coinbase to $196 from $173 on Tuesday, after the stock had already climbed 28% in five sessions.

"This is going to be embedded in the large finance institutions"

"Version two of the narrative around crypto is to take it seriously," Andy Duenas, director of financial services at Cap V, said on the On The Margin podcast. Goldman analyst James Yaro maintained his Buy rating and set a $124 target on Robinhood, citing growth in newer lines of business, including derivatives and prediction markets.

"This is going to be the future of finance. This is going to be embedded in the large finance institutions,". Duenas’ comments came as Goldman Sachs, which raised the targets, has been building a crypto business of its own. Coinbase closed Tuesday at $187.16, up 4.3%.