Coinbase (COIN) Stock Gets New Price Targets from Barclays, Benchmark, Bernstein, Cantor
Highlights
- COIN stock price slips on Wednesday as Coinbase everything exchange receives contrasting views.
- Barclays analyst reiterated Coinbase stock as underweight and maintained a price target of $107.
- Benchmark and Bernstein kept higher price target on COIN stock.
- Cantor Fitzgerald has reiterated its buy rating and $250 price target on COIN stock.
COIN stock price slips in premarket trading on Wednesday despite Coinbase announcing “everything exchange” model. Wall Street analysts from Barclays, Bernstein, Benchmark, and Cantor Fitzgerald gave contrasting ratings and price targets on the stock.
Barclays Reiterates Coinbase “Underweight”
Barclays reiterated an ‘underweight’ rating on Coinbase (NASDAQ: COIN) stock. However, the investment bank maintained a $107 price target after the crypto exchange Coinbase’s “System Update” event.
The firm noted Coinbase’s aggressive push to become an “everything exchange” via new products such as tokenized equities, crypto and equity options, AI-powered trading advisory, and agentic payments. However, Barclays believes these additions are unlikely to offset the impact of muted crypto trading volumes.
Benchmark Analyst Gives Buy Rating on COIN Stock
Benchmark reiterated its ‘buy’ rating on COIN stock and set a $270 price target. The firm claimed Coinbase’s expansion beyond a cyclical crypto brokerage toward a wider platform to grab interest from traditional finance beyond the crypto ecosystem.
Benchmark analyst Mark Palmer’s price target forecast on COIN stock is higher than that of other Wall Street analysts. Coinbase stock is falling more than 1% today after closing 0.2% lower at $169.27 on Tuesday.
Bernstein Sets COIN Stock Price Target of $330
Bernstein has reiterated a ‘buy’ rating on COIN stock and maintained its highest price target of $330 following Coinbase’s “System Update” event.
Bernstein maintained its long-term outperform forecast despite cutting the price target earlier this year from $440 after a broader crypto market crash. Bernstein predicts almost 95% upside amid Coinbase’s diversifying into stock trading, custody, stablecoin operations, Base blockchain services, and institutional offerings.
Cantor Fitzgerald Reiterates Overweight Rating
Cantor Fitzgerald has reiterated its buy rating on COIN stock while keeping the price target at $250. The analyst sees Coinbase’s continued innovation and product expansion as key advantages.
The firm sees Coinbase expanding products during the downturn as the right strategic move. However, it warns of potential cyclical headwinds from crypto asset prices.
Meanwhile, Bitcoin price fell today below $65K ahead of the Fed rate decision. The robust retail sales data suggest the Federal Reserve could keep policy rates unchanged for longer, a rate hike is still on the table.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
