11:52 AM EDT, 05/16/2025 (MT Newswires) -- Coinbase (COIN) is offering a buying opportunity following a stock sell-off over a cyberattack and a media report about a probe into a users metric, Oppenheimer said in a Thursday note.

"Cyberattack and SEC's investigation headlines offer buying opportunity," Oppenheimer analysts said. "We believe the sell-off is overdone and reiterate our outperform rating."

Coinbase reported Thursday a recent cyberattack that could cost the company $180 million to $400 million in remediation expenses and voluntary customer reimbursements.

"COIN intends to send a message that customers' funds are safe, and they will take full responsibility," the analysts said.

Separately, the New York Times reported Thursday that the company faces a US Securities and Exchange Commission probe over whether it misstated user numbers in past disclosures.

"The...announcement stems from an old investigation started under previous administration related to a metric COIN stopped reporting 2.5 years ago," the analysts said.

Coinbase shares were rising past 8% in recent Friday trading.

Price: 265.42, Change: +20.98, Percent Change: +8.58