Goldman Bullish on Online Brokers’ 4Q Earnings Due to Crypto Activity, Retail Trading

Posted on by American Coins & Gold

Goldman Bullish on Online Brokers’ 4Q Earnings Due to Crypto Activity, Retail Trading
Goldman Sachs is bullish about the prospects for fourth-quarter earnings for online brokers due to a surge in crypto-trading revenues and increased activity from retail investors.Crypto exchange Coinbase, bank Silvergate Capital and trading platform Robinhood are expected to post the strongest results relative to estimates, the bank said in a note published Tuesday. Goldman expects total crypto-trading revenue at Coinbase and Robinhood to rise 62% and 18% respectively from the previous quarter.Here’s what the Wall Street giant said:Coinbase (buy rated, price target (PT) cut to $352 from $387)Large volumes in shiba inu during the quarter are indicative of strong retail-trading…