5 Best New Tech Stocks to Buy Now

3. Coinbase Global, Inc. (NASDAQ: COIN)

IPO Date: April 14, 2021 

No. of Hedge Funds Having Stakes in the Company: N/A

Coinbase Global, Inc. (NASDAQ: COIN) is an easy-to-use cryptocurrency exchange platform. It offers a fair, accessible, and efficient financial system to its users. The company has over 56 million verified users in more than 100 countries. Coinbase Global, Inc. (NASDAQ: COIN) was founded in 2012.

In Q1 2021, Coinbase Global, Inc. (NASDAQ: COIN) generated $1.8 billion in revenue, up massively from $191 million during the same period last year. Transaction revenue amounted to $1.5 billion of the gross revenue. In the first quarter, the company also launched Coinbase Cloud as a part of its cloud-based crypto computing services.

In July Oppenheimer raised its price target on Coinbase Global, Inc. (NASDAQ: COIN) to $444 with an ‘Outperform’ rating. The firm expects strong results from the company in the second quarter as well.

Coinbase Global, Inc. (NASDAQ: COIN) went public on April 14 with shares gaining as much as 71%, up from its reference price of $250.