Cantor Fitzgerald: Prediction markets are next growth driver for Coinbase, Robinhood

Investment bank Cantor Fitzgerald believes Coinbase (COIN) and Robinhood (HOOD) are focusing on prediction markets and new product launches as their next growth drivers, CoinDesk reported. Analyst Ramsey El-Assal noted that while first-quarter crypto trading results for both firms are expected to be weak, investors are looking ahead to future products like prediction markets. He explained that despite a potential for sluggish short-term revenue, investor sentiment is improving amid long-term growth prospects. El-Assal added that prediction markets and tokenization could help diversify the companies' revenue streams. Cantor Fitzgerald maintained its "overweight" rating on both companies and raised its price targets to $250 for Coinbase and $110 for Robinhood.