This cryptocurrency trading company has been on a wild ride since going public with a direct listing. Coinbase Global Inc. (NASDAQ: COIN) provides financial infrastructure and technology for the cryptocurrency economy.
The company provides a primary financial account for the cryptocurrency economy, a platform to invest, store, spend, earn and use crypto assets. It provides an online marketplace for hedge funds, money managers and corporations, as well as a platform with technology and services to developers, merchants and asset issuers that enables them to build applications that leverage cryptocurrency protocols. It serves retail users, institutions and ecosystem partners.
Goldman Sachs loves the company and noted this when it started coverage earlier this year:
While we believe the core business today offers an attractive growth profile with the potential to drive high levels of profitability, we see significant white space for new initiatives to drive more stable and recurring revenue streams to complement the core trading business over the longer term. If meaningful parts of the economy can transition to blockchain and crypto-native technology over time we see significant opportunity for [Coinbase] to benefit from its status as a critical element of the financial infrastructure for the ecosystem.
The new Goldman Sachs price target is $337, up from $298. The consensus is still higher at $370.67. Coinbase Global stock closed at $256 on Monday.
With a massive infrastructure plan coming, one way or another, equipment company products will be in demand, and Deere & Co. (NYSE: DE) is a leader. It is the largest manufacturer/distributor of agricultural equipment worldwide, with leading market shares in large farm-equipment segments. The company’s three main areas are:
- Agriculture and Turf (farm equipment, lawn and garden, other outdoor products)
- Construction and Forestry (construction, earth-moving, material-handling and timber-harvesting equipment)
- Credit (financing)
The Construction and Forestry segment, which should benefit the most from an infrastructure push, offers a range of machines and service parts, including backhoe loaders; crawler dozers and loaders; four-wheel-drive loaders; excavators; motor graders; articulated dump trucks; landscape loaders; skid-steer loaders; milling machines; recyclers; slipform pavers; surface miners; asphalt pavers; compactors; tandem and static rollers; mobile crushers and screens; mobile and stationary asphalt plants; log skidders; feller bunchers; log loaders; log forwarders; and log harvesters and related logging attachments.
Shareholders receive a 1.07% dividend. Goldman Sachs raised its price target on Deere stock to $480 from $430. The $405.89 Wall Street consensus target is much lower. On Monday, shares popped up over 3% to close at $362.80.
These four top companies are hitting on all cylinders, have earnings out of the way for the quarter and their stocks look poised to head higher the rest of 2021. With the seasonally weak time of the year almost upon us, it may make sense to buy partial positions and look to scale in more capital if we get a sell-off.