Coinbase stock price target raised to $277 from $248 at Compass Point

Investing.com - Compass Point raised its price target on Coinbase Global Inc. (NASDAQ:COIN) to $277.00 from $248.00 on Monday, while maintaining a Sell rating on the cryptocurrency exchange operator. The company, currently valued at $86.34 billion, trades at a P/E ratio of 32.4x and has gained over 35% year-to-date. According to InvestingPro analysis, the stock appears overvalued at current levels.

The price target increase of $29 reflects August’s rally in cryptocurrency prices, according to Compass Point. Despite the higher target, the firm reiterated its Sell rating on Coinbase shares, which have shown significant volatility in recent months.

Compass Point expects Coinbase to report third-quarter revenue approximately 2% above consensus estimates, which excludes a roughly $43 million contribution from Deribit, which Coinbase acquired on August 12, 2025.

The firm’s adjusted EBITDA forecast is 3% above consensus, including an incremental $29 million contribution from Deribit. The anticipated third-quarter outperformance is entirely driven by Subscription & Services revenue, while Transaction Revenue is modeled in-line with expectations.

Compass Point cautioned that several factors could cause actual results to fall short of increasing expectations, noting that Coinbase shares have declined by over 3% following each of its five most recent earnings reports.

In other recent news, Coinbase has introduced new business payment tools utilizing the USDC stablecoin. These features, available on Coinbase Business, aim to streamline cross-border payments by allowing companies to send and receive USDC with lower fees and instant settlement. Additionally, Grayscale Bitcoin Trust ETF has updated its service agreements with Coinbase, involving Coinbase Custody Trust Company and Coinbase Credit. This new arrangement outlines the roles and responsibilities for managing the trust’s bitcoin holdings.

Raymond James has reiterated its Market Perform rating on Coinbase, citing an uneven cryptocurrency market backdrop as a factor. Meanwhile, Citizens has maintained its Market Outperform rating on Coinbase, with a price target set at $440.00, ahead of the company’s third-quarter earnings report. The firm anticipates improved core results for the third quarter compared to the second quarter, although it expects some complexity in the GAAP headline due to specific financial adjustments.

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