BTIG reiterates Buy on Coinbase with $240 target

• —$240 price target versus current $172 — about 40% upside
• —Institutional segment accounts for roughly 20% of Coinbase revenue
• —Revenue over the last 12 months was $6.04B with an 85.8% margin
• —Consensus of 33 analysts is $220, with 18 rating it Buy