COIN Stock Outlook as BofA Raises Target to $203 on Stablecoin Revenue Growth

Coinbase (NASDAQ: COIN) stock price is up today, October 5, after the Bank of America (BofA) raised its target on the shares based on a bullish outlook on the exchange’s stablecoin revenue.

COIN stock gains also mirror an uptrend across US crypto stocks, with Circle and Strategy shares also rising by 2.1% and 2.4%, respectively, at the time of writing.

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BofA Raises COIN Stock Target to $203

BofA Securities has raised its target for COIN stock price from $174 to $203. The firm also maintained a buy rating on the stock.

BofA’s target is a 6% upside from the share price of $191 at the time of writing. Still, the shares also remain down by 19% year-to-date.

The firm attributed this new target to a potential surge in Coinbase’s stablecoin revenue after the Federal Reserve hiked interest rates by 25 basis points during the September FOMC meeting.

The bullish outlook also comes shortly after Bitwise CIO Matt Hougan noted that the failure of the CLARITY Act bill gave Coinbase a stablecoin rewards edge.

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EPS Target Trimmed to -$0.24

In its new rating, BofA also lowered Coinbase’s earnings-per-share (EPS) for Q3 2026 from -$0.22 to -$0.24. The firm expects Coinbase to report a full-year EPS of -$0.73, with this being a drop from its previous forecast of -$0.71.

BofA attributes its move to trim the EPS forecast to weak crypto trading volumes following a bearish outlook that gripped the crypto market for most of 2026.

As CoinGape reported earlier, Coinbase’s adjusted EPS for Q2 2026 came in at -$0.39, with this being notably lower than the forecast of $0.14.

Coinbase is expected to release its Q3 2026 financial results on October 23 after the market closes.

COIN Stock Outlook as Bullish Momentum Returns

COIN stock price had jumped by 3% to trade at $188 at the time of writing. The shares had earlier reached an intraday high of $191.

The weekly chart shows that today’s gains coincide with a slight rise in the RSI reading to 51, suggesting a shift in momentum to bullish.

If COIN can sustain these gains this week as geopolitical tensions ease and the odds of the Fed hiking interest rates at the October FOMC meeting fall, the shares could reach the upper Bollinger band of $201.

However, a repeat of the downtrend seen last week could push COIN stock price to support at $174, with an extended downtrend set to push the shares to the lower Bollinger band of $136.