Bank of America raises Robinhood and Coinbase price targets to $156 and $203, respectively; cuts eToro to $39.

BlockBeats news, October 12: Bank of America (BofA) adjusted its price targets for three trading platforms ahead of their third-quarter earnings reports. Analyst Craig Siegenthaler raised Robinhood's price target from $140 to $156, maintaining a "Buy" rating; raised Coinbase's price target from $174 to $203, also maintaining a "Buy" rating; and lowered eToro's price target from $46 to $39, maintaining a "Neutral" rating.

Regarding earnings expectations, the market anticipates Robinhood's third-quarter revenue at approximately $1.4 billion and earnings per share of $0.64, with the company having exceeded EPS expectations for 11 consecutive quarters. Coinbase is expected to report revenue of approximately $1.77 billion and a loss per share of $0.20, having missed profit expectations for three consecutive quarters. eToro is expected to report revenue of approximately $203 million and earnings per share of $0.40.

The report noted that BofA's upward revision of Coinbase's price target was partly based on expectations of stablecoin-related revenue growth, while simultaneously lowering its near-term trading volume forecasts. For eToro, BofA lowered its earnings forecasts due to factors including expected declines in contributions from equities, commodities, and foreign exchange trading, as well as slowing account growth.