Coinbase Global, Inc.

(NASDAQ Global Select)
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Slightly Bullish +25

Bank of America raises Coinbase price target to $203, keeps Buy rating

Price target change AI-generated analysis

📈 Bank of America raised its price target for Coinbase to $203 from $174 and maintained a Buy rating.

💰 The upgrade is driven by expectations of increased stablecoin revenue after the Federal Reserve's September 2026 rate hike.

📉 BofA lowered near-term earnings forecasts because crypto trading volumes declined despite significant price gains in Bitcoin and Ether.

🔮 Analyst Craig Siegenthaler raised EPS estimates for 2027 and 2028 based on the anticipated stablecoin business model.

⚖️ The stock faces mixed analyst sentiment, with Citizens JMP holding a Buy rating while Barclays rates it a Sell.

📊 Coinbase reported Q1 revenue of $1.41 billion and a GAAP net loss of $394 million, compared to $2.03 billion revenue and $65.61 million profit a year prior.

Bullish Signals
  • Bank of America raised its price target to $203 from $174, signaling confidence in the company's long-term value proposition.
  • Analyst Craig Siegenthaler increased earnings per share estimates for 2027 and 2028 due to expected growth in stablecoin revenue streams.
  • The upgrade suggests that Coinbase's transition to a higher-margin stablecoin business model is being viewed favorably by major Wall Street analysts.
Risk Factors
  • BofA reduced near-term earnings forecasts because crypto trading volumes have declined, even as asset prices surged.
  • The company reported a significant contraction in performance, dropping from $2.03 billion revenue and profit in the prior-year Q1 to $1.41 billion revenue and a $394 million loss in the most recent quarter.
  • Barclays maintains a Sell rating on Coinbase, indicating that not all major institutions are convinced of the stock's immediate upside.
Full Analysis
Bank of America analyst Craig Siegenthaler has raised its price target for Coinbase Global (COIN) to $203 from $174, maintaining a Buy rating. The revision, dated October 5, 2026, is driven by expectations of higher stablecoin revenue following the Federal Reserve's rate hike in September 2026, rather than current trading volume growth. BofA increased its earnings per share estimates for Coinbase for 2027 and 2028, citing anticipated stablecoin income in those years. Conversely, the bank trimmed near-term forecasts due to a decline in crypto trading volumes, noting that this drop occurred despite Bitcoin rising 43% and Ether climbing 70% in the third quarter. The analyst's thesis relies heavily on the post-hike rate environment for long-term growth, suggesting that current market dynamics may not fully reflect future profitability. This outlook contrasts with other analysts, as Citizens JMP holds a Buy rating while Barclays rates the stock a Sell, highlighting divergent views on Coinbase's immediate versus long-term prospects.