Coinbase (COIN) just got another bullish nod from Wall Street. Bernstein initiated coverage of the crypto exchange with an outperform rating and a $310 price target, suggesting over 60% upside from current levels. Analysts see Coinbase as the best-positioned platform to benefit from a shifting regulatory landscape under the new Trump administration.
Bernstein acknowledged concerns about growing competition from fintech firms, brokers, and banks. However, analysts led by Gautam Chhugani believe a strong bull market and rising U.S. onshore dominance will more than offset these pressures. Moreover, since Coinbase controls 66% of the U.S. crypto market, it is seen as a clear leader in the space.
Crypto Regulation Shifts in Coinbase’s Favor
Regulatory uncertainty has long been a thorn in the crypto industry’s side, but that could be changing fast. Bernstein pointed to Donald Trump’s commitment to making the U.S. the ‘crypto capital of the world’ as a key tailwind for Coinbase. The SEC has formed a new crypto task force, led by Commissioner Hester Peirce, to draft updated regulations, signaling a more structured framework for the industry.
Bernstein pointed out that Coinbase isn’t just about trading anymore—its growing role in U.S. dollar stablecoins and staking services is shaping up to be a major part of its business. Analysts expect non-trading revenues to grow at a 31% compound annual growth rate (CAGR) between 2024 and 2026, helping to balance the volatility of trading revenue.
Wall Street Is Split on Coinbase’s Future
Not everyone is fully convinced. Some COIN bears worry about fee pressure and rising competition, but Bernstein argues they are underestimating the market expansion from global crypto trading moving back to the U.S.
Coinbase is sitting on a massive $400 billion in assets and has nearly 10 million active users, which pretty much cements its spot as the top player in the U.S. crypto market. Bernstein thinks Coinbase’s EPS could climb 38% annually, putting it well ahead of what analysts expect for 2025 and 2026.
Coinbase stock dipped 2% to $185.20 in early trading, but bullish sentiment from major firms like Bernstein could help drive long-term investor confidence.
Is COIN stock Worth Buying?
Analysts remain cautiously optimistic about COIN stock, with a Moderate Buy consensus rating based on 46 Buys and one Hold. Over the past year, COIN has decreased by 25%, and the average COIN price target of $336.84 implies an upside potential of 87.24% from current levels.
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