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Market Movers rounded up the best reactions from investors and analysts on Coinbase Global . CNBC's Jim Cramer and Mizuho Securities' Dan Dolev discussed the crypto exchange as its shares popped 7.5% Tuesday following an upgrade of the stock by Atlantic Equities to overweight from neutral. Analyst Simon Clinch maintained the $70 price target on the stock and said: "Coinbase's recent actions allow investors to look through towards the longer-term opportunity. We are raising our revenue estimates by 8.2% and 7.4% in FY23 and FY24 … making Coinbase the best way to express a view on the crypto market."
Persons: CNBC's Jim Cramer, Dan Dolev, Simon Clinch Organizations: Coinbase, Mizuho Securities
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCoinbase stock pops after analyst upgrade. Here's how the pros are reactingJim Cramer and Dan Dolev of Mizuho Securities break down what they think about Coinbase Global after Atlantic Equities upgraded the stock.
Persons: Jim Cramer, Dan Dolev Organizations: Mizuho Securities
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe bears are mathematically and intellectually wrong about SoFi's loans, says Mizuho's Dan DolevDan Dolev, managing director at Mizuho Securities, joins 'The Exchange' to discuss skepticism surrounding SoFi's loan performance, the bullish case for SoFi, and caution around prospects for fintech.
REUTERS/Fabrizio BenschMay 8 (Reuters) - PayPal Holdings Inc (PYPL.O) on Monday cut its outlook for annual adjusted operating margin, overshadowing its profit forecast raise, sending shares in the payments firm down 5% in extending trading. PayPal expects adjusted operating margin expansion of 100 basis points this year, compared with its earlier forecast of a 125-basis-point growth. Still, the payments heavyweight raised its full-year adjusted profit forecast on the back of stronger-than-expected e-commerce trends and improved margins on cost cuts. It now expects adjusted profit growth of about 20% to $4.95 per share, above analysts' average estimate of $4.88 per share,Adjusted operating margin in the first-quarter came in at 22.7% compared with 20.7% last year. The payments firm posted a profit of $1.17 per share on an adjusted basis for the quarter, compared with 88 cents last year.
Mizuho analyst Dan Dolev makes the bearish case for Coinbase
  + stars: | 2023-04-13 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMizuho analyst Dan Dolev makes the bearish case for CoinbaseDan Dolev, Mizuho analyst, joins 'The Exchange' to discuss his bearish take on Coinbase.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCrypto outlook looks dire for exchanges, says Mizuho’s Dan DolevDan Dolev, Mizuho senior analyst, joins 'Closing Bell: Overtime' to discuss the crypto industry as the news of CFTC suing Binance triggered the plunge in prices of digital currencies, including Bitcoin.
The downgrade comes after U.S. Securities and Exchange Commission slapped Coinbase with a Wells notice, saying it's identified possible violations of U.S. securities law . It also comes after the White House "strongly criticized" the digital asset sector this month . Coinbase shares surged nearly 118% in 2023, far outstripping the 3% gain in the S & P 500 over the same time period. Other analysts commented on Coinbase following the Wells notice. Mizuho Securities' Dan Dolev reiterated an underperform rating on Coinbase, saying the Wells notice is a "significant overhang" of the stock in his view.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBlock was down today because of what wasn't in Hindenburg's report, says Mizuho's DolevMizuho's Dan Dolev joins the 'CNBC Special: Taking stock' to discuss his bullish take on Block.
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailI don't see great things for Coinbase in 2023, says Mizuho's Dan DolevDan Dolev of Mizuho Securities joins 'Closing Bell: Overtime' to discuss Coinbase's earnings announcement and what he thinks about the company's future.
Bitcoin is up almost 40% since the beginning of the month and new year, but retail traders are still sitting on the sidelines, according to Mizuho. Mizuho polled more than 170 Coinbase retail customers and asked about their trading behavior in December and January. "Retail trading is COIN's bread and butter, as it accounted for 83% of total revenue in 2021," Mizuho analyst Dan Dolev said in the note. Mizuho reiterated its underperform rating on Coinbase and said it sees potential downside of about 45% for the shares. We found that COIN's share of combined volumes during the rally (e.g.
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMizuho's Dan Dolev breaks down his underperform rating on CoinbaseDan Dolev, Mizuho Managing Director, joins 'TechCheck' to discuss crypto, Tesla, and the bear case for coinbase.
Businesses that relied on "free and infinite capital" are now facing a harsh reality, according to fund manager Trent Masters, and could even go bankrupt. Carvana One company that falls into this category is online car dealer Carvana , Masters told CNBC Pro Talks . Affirm Masters also said that some buy now pay later (BNPL) companies, like consumer credit lender Affirm, were coming under strain in the current market conditions. Shares of Affirm Holdings have fallen by more than 80% over the past year to $12 a share. AFRM 1Y line Shares of credit lender Affirm have fallen by more than 80% in the past 12 month
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRobinhood's appeal to younger investors presents room for additional growth, says Mizuho's DolevMizuho's Dan Dolev joins 'TechCheck' to discuss the reasons behind his bullish call on Robinhood due to new product releases, its younger population of users and profitability numbers.
Crypto platform Coinbase could further struggle if a deal providing millions of dollars in revenue each quarter is renegotiated, according to Mizuho. Managing Director Dan Dolev downgraded the stock to underperform from neutral and slashed his price target to $30 from $42. "Our assessment of consensus estimates for interest income for COIN suggests that the Street is underestimating the potential risks," he said in a note to clients. The third-quarter payout is estimated to come in at around $80 million, which translates to 32% of total interest revenue. In all, Dolev expects around $2.4 billion in 2023 revenue, which would be about 25% to 30% below consensus expectations.
There's no shortage of ties between Wall Street and real estate. So it's only fitting that we'd highlight Insider's third-annual list of rising stars in real estate. The latter boils down to trying to use tech to automate and innovate a key, but sometimes costly, part of the business, something Wall Street is well versed in. There is Megan LeMense, 34, a former WeWorker who is thinking about the future of the office in her role at Raise Commercial Real Estate. BlockFi is the latest crypto firm caught up in the FTX debacle.
"I think crypto is dead, and I think that investing in Coinbase is just a waste of time," Mizuho analyst Dan Dolev said on Friday. The Wall Street analyst doesn't expect Coinbase to benefit from the collapse of rival crypto exchange FTX. "I think crypto is dead, and I think that investing in Coinbase is just a waste of time," Dolev said. Instead, the sole driver of prices, and therefore value, in crypto tokens is supply and demand, and demand is floundering. "What we're talking about here is these crypto tokens.
Insights on the fintech landscape with Mizuho's Dan Dolev
  + stars: | 2022-11-25 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInsights on the fintech landscape with Mizuho's Dan DolevMizuho's Dan Dolev joins 'TechCheck' to discuss Q4 market expectations, highlighting SoFi's fundamentals, Affirm's leadership in the buy-now-pay later space and Coinbase's positioning in the crypto market.
The bear and bull case for Coinbase
  + stars: | 2022-11-22 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe bear and bull case for CoinbaseD.A. Davidson’s Chris Brendler and Mizuho’s Dan Dolev join 'The Exchange' to give the bull and bear case for Coinbase.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailI'm actually surprised Coinbase isn't down even more, says Mizuho's DolevDan Dolev, Mizuho Securities, joins 'Closing Bell' to discuss if the price moves in the cryptocurrency space make sense today, why FTX's liquidity crunch is worrisome for Coinbase and what Coinbase is worth to Dolev with risk baked in.
Toast is a safe bet for growth, says Mizuho's Dan Dolev
  + stars: | 2022-10-10 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailToast is a safe bet for growth, says Mizuho's Dan DolevDan Dolev, Mizuho senior analyst and managing director, joins 'Power Lunch' to discuss the profitability of Toast, the factor contributing to Toast's recession resistance, and how puts on the stock help reinforce resilience.
Block has enormous potential in payments that it's not cashing in, according to Mizuho. The firm downgraded shares of the company to neutral from buy and slashed its price target to $57 from $125. Bitcoin accounted for less than 5% of gross profits in the first half of 2022, according to the note. Cash app is seeing lower growth due to over-saturation in low-income households, lower penetration in key age groups, slowing adds despite doubling user acquisition costs and lower monetization. Afterpay is also seeing slowing credit volumes, a worrisome trend that also led Mizuho to cut its gross profit expectations by 20% for the segment.
Mizuho downgrades Block to neutral
  + stars: | 2022-09-22 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMizuho downgrades Block to neutralMizuho's Dan Dolev joins 'Closing Bell' to discuss why he downgraded Block (formerly Square) to neutral.
Cash App launched a new clothing brand, Cash by Cash App, during the pandemic. In a bid to stand out in a crowded payments market, Cash App launched a fashion brand, Cash by Cash App, in 2020.he line initially offered athleisure styling amid the pandemic. Then, last November, Cash App worked with rapper Megan Thee Stallion on an outside, limited-edition collection that Liang Shi, head of Cash by Cash App said sold out of the few hundred units created. Three women model Cash App robes and Fenty Beauty leisure wear at Afterpay, Cash App & Tidal's Front Row To NYFW Party on September 13, 2022, in New York City. Cash App's Ferdon said that Cash by Cash App "is pretty well integrated" into the company's broader payments "ecosystem."
Watch CNBC's full interview with Mizuho's Dan Dolev
  + stars: | 2022-08-31 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Mizuho's Dan DolevDan Dolev, Mizuho senior analyst and managing director, joins 'Power Lunch' to discuss why he favors newer payment companies over legacy companies, his thoughts on the payment companies that he does like and his investing take on PayPal.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere's better place to play in payments than networks like Visa, says Mizuho's DolevDan Dolev, Mizuho senior analyst and managing director, joins 'Power Lunch' to discuss why he favors newer payment companies over the legacy companies, Dolev's thoughts on the payment companies that he does like and more.
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