Catenaa, Thursday, July 10, 2025-Bernstein analysts have raised their 12-month price target for Coinbase to $510, citing strong earnings projections and new strategic growth avenues.
The updated forecast, up from $310, comes as the crypto exchange’s stock trades just shy of its all-time high, reflecting resurgent investor confidence.
In a note released Wednesday, Bernstein analyst Gautam Chhugani said Coinbase remains the “most misunderstood” firm in the sector, despite being the only crypto-native company in the S&P 500 and dominating US digital asset trading.
The firm’s diversified revenue sources, including trading, custody services, derivatives, and USDC stablecoin partnerships, underpin the upgraded valuation.
Coinbase’s recent acquisition of derivatives platform Deribit and its growing influence in stablecoin flows position it to benefit from upcoming US crypto legislation.
Analysts described the company as the “Amazon of crypto financial services,” highlighting its early-mover advantage, robust platform suite, and expanding global footprint.
Bernstein’s revised model now estimates $9.5 billion in revenue for 2025, with $4.2 billion expected from non-trading activities
Revenue projections for 2026 and 2027 were also increased to $12.7 billion and $14.1 billion, respectively. Earnings per share are forecast at $17.92 in 2026 and $20.38 in 2027, backed by operational leverage.
Chhugani reaffirmed his long-standing bullish stance, emphasizing that traditional competitors remain months away from deploying comparable services.
