Barclays analyst Benjamin Budish lowered the price target on Coinbase Global (COIN) to $334 from $358 and keeps an Outperform rating on the shares.
opco lowered its price target on Coinbase Global (NASDAQ:COIN) to $334 from $358, and maintained an Outperform rating on the shares.
The firm noted that the selloff in Coinbase shares since late December presents a buying opportunity. It predicts Q4 will be a “very good” quarter, and sees upward earnings-estimate revisions for the out years, and potential for S&P 500 inclusion in 2025.
In addition, the analyst expects regulatory clarity under a “pro-crypto” President Trump. As a leading, focused crypto player with “optionality” in Web3 payment use case, Coinbase shares are a “bargain,” trading at a discount to Robinhood (NASDAQ:HOOD). Opco believes both core earnings growth and multiple expansion can drive alpha for Coinbase.
While it reduced estimates, the firm believes higher trading volume, increased token prices, and regulatory clarity will drive higher Street estimates for 2025 and 2026.
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