On January 6, Bernstein analyst Gautam Chhugani reduced the firm's price target for Coinbase Global Inc. to $440 from $510. The firm maintained an Outperform rating on the shares. Bernstein expects a tokenization supercycle in 2026, involving the migration of the dollar, capital markets, and event-based assets to blockchain. The firm expressed optimism about Bitcoin, stating that the cryptocurrency and digital asset market have hit their cyclical bottom.
Also on January 6, Rosenblatt cut its price target for Coinbase to $325 from $470, keeping a Buy rating. The adjustment followed a significant deceleration in trading activity. Rosenblatt noted that the market has already priced in these lower volumes. The firm remains bullish on Coinbase's long-term transformation, citing upside potential as the company expands into equities, prediction markets, and stablecoin payments, which could reduce reliance on volatile crypto trading cycles.
On January 5, Goldman Sachs upgraded Coinbase Global Inc. to Buy from Neutral and raised its price target to $303 from $294. The firm highlighted that recent product launches have strengthened the competitiveness of Coinbase's core business. Goldman Sachs characterized Coinbase as a best-in-class play for those seeking to capitalize on crypto infrastructure expansion.
Coinbase Global Inc. operates a platform for crypto assets in the United States and internationally.