On Tuesday, Keefe, Bruyette & Woods analyst Kyle Voigt increased the price target for Coinbase Global Inc. (NASDAQ:COIN) shares, elevating it to $305 from the previous $255, while maintaining a Market Perform rating on the stock. The adjustment comes in the wake of Coinbase’s reported earnings, which surpassed both the firm’s and consensus estimates, largely due to robust retail trading volumes and fees.
Coinbase Global Inc. reported total net revenues, including transaction plus subscription revenues and services revenue, at $2.197 billion. This figure represents a 22.5% increase over Keefe, Bruyette & Woods’ estimate of $1.793 billion and also exceeds the consensus estimate of $1.794 billion. The outperformance was primarily attributed to heightened retail trading activity and an uptick in fee rates during the quarter.
The company’s Adjusted EBITDA also outperformed expectations, coming in at $1.289 billion. This result not only surpassed Keefe, Bruyette & Woods’ estimate of $994 million but also the consensus estimate of $870 million. The strong financial outcomes have been a driving factor behind the revised price target.
Additionally, Coinbase management provided an update on first-quarter-to-date trading revenue, which also exceeded Keefe, Bruyette & Woods’ prior estimates. This update has been a contributing factor to the firm’s decision to raise their price target for the cryptocurrency exchange platform.
Keefe, Bruyette & Woods’ updated valuation of Coinbase reflects the company’s recent financial successes and the momentum observed in retail trading as the cryptocurrency market continues to evolve. The Market Perform rating suggests that while the analyst acknowledges the positive developments, the current stock price may already reflect the company’s growth prospects.
In other recent news, Coinbase Global Inc. has been the subject of several developments. Canaccord Genuity analysts have raised the price target for the company to $400, maintaining a buy rating. This follows a strong fourth-quarter financial performance, with an 88% increase in overall revenue to $2.3 billion, and an adjusted EBITDA of $1.3 billion. The firm expressed confidence in Coinbase’s ability to capitalize on its business model and potentially benefit from a more supportive regulatory landscape for digital assets.
Coinbase has also entered a partnership with Aston Martin (LON:AML)’s Formula One team as its Official Crypto Partner. This collaboration will feature Coinbase branding on the team’s racing car and drivers’ suits. Furthermore, the alliance aims to explore new fan engagement strategies by leveraging blockchain technology.
Meanwhile, CFRA analyst Michael Elliott has adjusted the price target for Coinbase stock, reducing it from $335 to $325, while maintaining a hold rating. Despite this, the 2025 earnings per share estimate was raised to $6.32, and a 2026 forecast of $7.06 was introduced.
In addition, Strategy, formerly known as MicroStrategy, has seen significant investments from twelve states in North America, totaling $330 million. Among these, the California State Teachers Retirement System and the California Public Employees’ Retirement System hold significant positions in Coinbase.
Lastly, Coinbase’s CEO, Brian Armstrong, predicted that by 2030, up to 10% of global GDP could be crypto-based, potentially exceeding $10 trillion in tokenized or onchain value. These are the recent developments in the company’s operations.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.