Coinbase Stock Eyes Breakout as Goldman Sachs, Morgan Stanley Boost Targets

Coinbase stock ended the week at $175.20 as shares continued consolidating above their 2026 lows. COIN remained well below its earlier yearly highs, but recent Wall Street target increases kept attention on a possible recovery.

Morgan Stanley initiated coverage with a $250 price target on Sept. 10. Goldman Sachs also raised its target to $219 this month, while Cantor Fitzgerald maintained a $212 target.

The targets came as Coinbase continued broadening its business beyond cryptocurrency spot trading. The company has added stocks, prediction markets and tokenized assets while expanding stablecoin and payments revenue.

Analysts are Bullish on Coinbase Stock

Top analysts tracking Coinbase stock have turned bullish on the company. Michael Cyprys, a Morgan Stanley analyst, initiated the company with a target of $250, suggesting a 43% upside from the current level.

In another note this month, James Yaro, a Goldman Sachs analyst, boosted his target for Coinbase from $196 to $219. Cantor Fitzgerald’s Ramsey El-Assal reiterated his bullish outlook for the company, placing a target of $212. Other analysts who are bullish on the company are from companies like Mizuho, HC Wainwright, Citigroup, and Bernstein.

In a recent note, Yaro noted that Coinbase was going through an evolution from just a crypto exchange into a large player in key verticals in finance.

For one, the company’s goal is to become an “everything exchange”, where, in addition to cryptocurrencies, users can trade other assets. In this, it has already added assets like stocks and exchange-traded funds (ETFs).

It is doing that by investing in real-world asset (RWA) tokenization technology, which allows people to invest in these assets without going through a traditional broker. Indeed, top stocks like SanDisk, Nvidia, and Micron have become some of the most common assets traded on the platform. Also, it recently launched Bitcoin-backed mortgages.

Coinbase is a Top Name in the Stablecoin Industry

Coinbase has also ventured into the stablecoin industry. Instead of launching its own stablecoin, it is collaborating with established companies and earning fees from their stablecoins. The most important of these is its relationship with Circle Internet Group, which created USDC.

In this relationship, Coinbase retains all the interest it earns on its USDC holdings, which can be substantial. It made over $1 billion in stablecoin revenue last year, and this growth will likely continue as demand for stablecoins rise. It is also benefiting from the elevated short-term bond yields.

In addition to these, the company is also becoming a major player in the prediction market industry that is seeing strong growth. This growth surged during the World Cup and this trend will continue as European soccer tournaments start and as US NFL kicks off. This business has also benefited other companies, including Robinhood Markets.

In the short term, however, there is a risk that Coinbase’s business will face challenges. For example, analysts predict that its revenue in the third quarter will be $1.16 billion, down by over 37% from the same period last year.

The fourth-quarter revenue is expected to drop by 24% to $1.34 billion, bringing the annual figure to $5.3 billion. After that, analysts predict the company’s revenue will jump nearly 30% next year to $6.7 billion as its new products gain momentum.

Technical Analysis Suggests That Coinbase Stock Has Bottomed

The daily chart shows that the COIN stock is bottoming. It found a strong bottom at $141.3, its lowest level in February, July, and August this year. That is a sign that investors are sceptical about placing short positions below that price.

The stock has jumped above the 50-day Exponential Moving Average (EMA), a sign that bulls are prevailing. Therefore, the most likely scenario is that the stock continues to rise as bulls target the key resistance level of $250. This view will be confirmed if it rises above $200.

This article is for informational purposes only and does not constitute financial or investment advice. Investing in stocks and crypto-related assets involves risk, and past performance does not guarantee future results. Readers should conduct their own research before making investment decisions.