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Bernstein: Coinbase, Robinhood, and Figure's Q1 earnings may have bottomed out
Golden Finance reports that on March 30, Bernstein believes that because crypto-related stocks are currently trading at a significant discount, the Q1 earnings reports from Coinbase, Robinhood, and Figure may have already hit bottom. A Bernstein analyst said that crypto-related stocks are currently trading at a discount of roughly 60% versus their recent peak prices, and they may be approaching their lows before the release of weak Q1 earnings.
The firm maintained its “outperform” ratings for Coinbase, Robinhood, and Figure, but lowered its price targets.