Cantor Fitzgerald raises Coinbase stock price target to $500 on crypto rally

Investing.com - Cantor Fitzgerald has significantly raised its price target on Coinbase Global Inc. (NASDAQ:COIN) to $500 from $292 while maintaining an Overweight rating on the stock. The stock has shown remarkable momentum, delivering a 69% return year-to-date, though InvestingPro analysis indicates the stock is currently trading above its Fair Value.

The price target increase reflects the recent cryptocurrency market rally that has pushed Bitcoin to new all-time highs and lifted other major digital assets. This market momentum has historically correlated with increased trading volumes on Coinbase’s platform, a pattern that analysts observe recurring in the current cycle. With a robust financial health score of GOOD from InvestingPro and current market capitalization of $106.92 billion, Coinbase maintains strong market positioning.

Cantor Fitzgerald has revised its 2026 earnings per share estimate upward to $10.76 from $8.36, citing three key factors: less decline in transaction revenue than previously forecast, higher stablecoin revenue as companies develop their stablecoin strategies, and increased blockchain rewards revenue from proof-of-stake digital assets.

The firm has also adjusted its valuation approach, applying a 46.5x price-to-earnings multiple compared to its previous 35x multiple. This change reflects an ongoing perception shift as investors increasingly view Coinbase as a critical infrastructure layer for cryptocurrency rather than merely a cyclical trading platform. Currently trading at a P/E ratio of 71x and a PEG ratio of 14.26x, the stock’s rich valuation metrics suggest careful analysis is warranted. For deeper insights into Coinbase’s valuation metrics and growth potential, investors can access comprehensive analysis through InvestingPro’s detailed research reports.

Coinbase recently announced a significant product update that effectively creates a cryptocurrency "superapp" combining payments, social features, chat, apps, and trading capabilities, which Cantor Fitzgerald believes is not yet fully reflected in the stock’s valuation.

In other recent news, Coinbase Global Inc. has seen a series of analyst upgrades and increased price targets following significant political and market developments. Rosenblatt has raised its price target for Coinbase to $470 from $300, maintaining a Buy rating, citing Bitcoin’s recent all-time highs and Coinbase’s inclusion in the S&P 500 as key factors. Compass Point also increased its price target to $330 from $195, while maintaining a Neutral rating, highlighting Coinbase’s integration with decentralized exchanges (DEX) as a positive move. Meanwhile, Argus initiated coverage with a Buy rating and a $400 price target, pointing to Coinbase’s leading position in the cryptocurrency market and the potential growth following the passage of the Genius Act.

Additionally, the U.S. House of Representatives approved a bill that expands the Commodity Futures Trading Commission’s oversight of cryptocurrencies, marking a significant regulatory development for the industry. This legislative progress is seen as a victory for the cryptocurrency sector, which has long advocated for clearer federal regulations. President Donald Trump’s signing of the GENIUS Act further solidifies the regulatory framework for stablecoins, prohibiting yields or interest payments on these digital assets. According to Deutsche Bank (ETR:DBKGn), this is driving Ethereum prices higher as investors seek alternatives for generating yields. These recent developments reflect a rapidly evolving landscape for cryptocurrency companies like Coinbase, offering new opportunities and challenges in the market.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.