Cantor Fitzgerald raises Coinbase target price to $212

Cantor Fitzgerald has raised its Coinbase target price from $184 to $212 and maintained its overweight rating. Cantor Fitzgerald included Coinbase management's guidance for the third quarter in the model: subscription and service revenue is expected to be between $500 million and $580 million, transaction fees as a percentage of net income are in the range of over ten percentage points, and adjusted expenses are expected to be between $98 million and $1.08 billion.