Goldman Sachs Upgrades Coinbase, Downgrades eToro Outlook
Goldman Sachs upgrades Coinbase to buy, cuts eToro to neutral
Goldman Sachs shifted its stance on two retail-focused trading platforms, upgrading Coinbase to a buy rating while downgrading eToro to neutral. The changes came as crypto-related equities moved higher alongside a Sunday night rally in crypto prices.
Coinbase shares were up about 4.3% in early Monday trading. Goldman set a $303 price target for Coinbase, representing roughly 34% upside from the stock’s prior levels.
At the same time, Goldman downgraded eToro Group Ltd (NASDAQ:ETOR) to Neutral from Buy and reduced its price objective to $39 from $48. The bank cited a tougher competitive environment, saying competition is intensifying across eToro’s core products.
The contrasting moves highlight how Wall Street is differentiating between companies tied to the crypto trading ecosystem, even when broader market sentiment lifts the sector at the same time.
