COIN Stock Outlook as JPMorgan Raises S&P 500 Target to 8,000 by Year-End

Coinbase (NASDAQ: COIN) stock price is down by 1.6% today, August 10, to trade at $153 at the time of writing. The drop comes despite JPMorgan raising its target for the S&P 500 index due to a strong Q2 earnings season.

COIN Stock in Focus as JPMorgan Raises S&P 500 Target

JPMorgan analyst Dubravko Lakos-Bujas has raised the price target for the S&P 500 index from 7,800 points to 8,000 points. This index traded at 7,751 points at press time.

The analyst based his bullish forecast on the recently released Q2 2026 earnings results, saying that 78% of the companies that have reported their earnings surpassed Wall Street estimates while only 10% of them missed their targets on revenues and earnings.

Bujas also opined that the companies that are spending heavily on AI are starting to show a higher operating cash flow, and this could boost their revenues for Q3 2026 and Q4 2026 and push the S&P 500 index to 8,000 points.

COIN stock is listed on the S&P 500 index, but Coinbase’s Q2 2026 earnings results dropped below Wall Street estimates per a previous report by CoinGape.

During the quarter, Coinbase reported revenue of $1.22 billion, which was below the $1.28 billion that Wall Street expected, while the earnings per share came in at -$1.36, also below the $0.42 that Wall Street expected.

COIN Stock Outlook as Price Remains Below Key EMAs

The price of Coinbase shares remains below the 20-day EMA of $156 and the 50-day EMA of $162. This drop suggests that the short-term momentum is favoring bears, and the price could continue dropping unless buying pressure rises.

The MACD line that is negative and moving below the signal line also suggests that COIN stock price could close below the psychological support of $150.

Each time COIN stock has failed to close above $150, the price usually retraces to the support at $146.

But if buyers come back due to macro factors such as a drop in US inflation after the CPI print comes out this week, the price of COIN stock could rebound to target the 20-day EMA of $156.

CLARITY Act Uncertainty Weighs on Coinbase Shares

A previous report by CoinGape revealed that the Senate Majority Leader John Thune filed cloture on the CLARITY Act bill on August 7 before the US Senate broke for summer recess.

The cloture vote will occur on September 15, but uncertainty lingers on whether the bill will pass or not because Democratic Senators are seeking a repeal of the ethics rules.

If the CLARITY Act bill fails to pass, it could weigh on crypto stocks, including COIN. Data from Polymarket shows that there is a 29% chance that the bill will pass in 2026.

Besides CLARITY Act odds, traders are also watching prediction markets for other macro factors that could move COIN stock price.