Bernstein Initiates Coverage on Coinbase With $310 Target, Citing Crypto Tailwinds
Bernstein has initiated coverage on Coinbase (COIN) with an “outperform” rating and a $310 price target, citing the company’s strong market position and the improving regulatory landscape as key drivers for growth.
In a report published Monday, Bernstein analysts highlighted Coinbase’s advantage as the U.S. crypto industry moves toward broader financial adoption. While shares dipped 2% to $185.20 in early trading, optimism remains high. According to FactSet data, 41% of Wall Street analysts rate COIN as a buy, while 7% have a sell rating, and the rest recommend holding.
The report acknowledged that increased regulatory clarity will bring heightened competition from banks, fintech firms, and brokers. However, analysts led by Gautam Chhugani believe that a strong bull market and growing U.S. dominance in crypto will more than counterbalance potential market share dilution or pricing pressure.
With President Trump advocating for the U.S. to become the “crypto capital of the world,” the policy environment is expected to become more favorable for digital assets. The SEC has also established a dedicated crypto task force, led by Commissioner Hester Peirce, to refine industry regulations and provide much-needed clarity.
Beyond its core trading business, Bernstein pointed to Coinbase’s growing presence in stablecoins and crypto yield services, including staking. The firm estimates that Coinbase’s non-trading revenue will grow at a compound annual growth rate (CAGR) of 31% between 2024 and 2026, providing resilience against fluctuations in trading volume.
Coinbase has also taken steps toward global expansion, recently securing Financial Intelligence Unit (FIU) registration, which allows the company to re-enter the Indian market. This move, confirmed in a recent blog post, marks a significant milestone in Coinbase’s international strategy.
With institutional adoption increasing and regulatory frameworks evolving, Bernstein sees Coinbase as a prime beneficiary of these shifts, reinforcing its positive outlook on the stock.
