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Investing.com - BTIG has raised its price target on Coinbase Global Inc. (NASDAQ:COIN) to $420.00 from $410.00 while maintaining a Buy rating. The new target sits between the analyst high target of $510 and low target of $185, with the stock currently trading at $328.51. According to InvestingPro data, Coinbase has delivered an impressive 83.27% return over the past year.
The firm cited Coinbase’s expansion of tradable spot assets to more than 40,000 through DEX integrations during the third quarter of 2025. The cryptocurrency exchange also scaled its U.S. perpetual futures offering and added global options with Deribit. This expansion strategy has contributed to Coinbase’s strong 49.18% revenue growth over the last twelve months.
BTIG highlighted CEO Brian Armstrong’s plans to build a full-stack payments platform as the next stage of the company’s growth strategy. Coinbase has begun rolling out its Payments APIs to provide businesses with a single integration for stablecoin checkout, 24/7 payouts, and automated treasury functions. The company appears well-positioned for this expansion with a healthy current ratio of 2.13, indicating liquid assets comfortably exceed short-term obligations.
The third-quarter report showed significant positive developments including a large revenue beat and an even larger EBITDA beat versus consensus estimates. The company also increased its buyback authorization to $2 billion from $1 billion. Coinbase reported $6.71 billion in revenue and $2.02 billion in EBITDA over the last twelve months. InvestingPro analysis suggests the stock is currently trading above its Fair Value, with additional ProTips available in the comprehensive Pro Research Report covering what really matters for investors.
BTIG noted some negative aspects from the quarterly report, including volume growth underperformance relative to global spot trading volume and consumer take-rate compression that was worse than Street estimates. Investors should note that Coinbase has a high beta of 3.68, indicating significantly more volatility than the broader market, which may explain some of the stock’s recent price movements.
In other recent news, Coinbase Global Inc. reported its third-quarter earnings, showcasing a notable performance with earnings per share of $1.44, which surpassed consensus estimates of $1.26. Additionally, adjusted EBITDA exceeded expectations by $97 million. In contrast, the company’s second-quarter results revealed a decrease in total revenue to $1.5 billion, falling short of the projected $1.78 billion, and earnings per share came in below the anticipated $1.21. Analysts from Jefferies and Goldman Sachs have adjusted their price targets for Coinbase, with Jefferies lowering it to $367 and Goldman Sachs to $368, while maintaining Hold and Neutral ratings, respectively. Goldman Sachs noted that Coinbase’s third-quarter earnings per share of $1.50 exceeded their estimate of $1.20 and consensus expectations of $0.99. Core earnings per share, excluding one-time items, matched Goldman Sachs’ estimate of $1.93 and surpassed the consensus of $1.84. These recent developments reflect the mixed performance and outlook for Coinbase as it navigates the evolving financial landscape.
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