Coinbase stock price target raised to $350 from $190 at Piper Sandler

Investing.com - Piper Sandler raised its price target on Coinbase Global Inc. (NASDAQ:COIN) to $350 from $190 while maintaining a Neutral rating on the stock. The cryptocurrency exchange, currently trading near its 52-week high with a market capitalization of $109 billion, has seen its stock surge 69% year-to-date. According to InvestingPro analysis, the stock appears to be trading above its Fair Value.

The investment firm cited peer group multiple expansion and a more positive outlook for digital assets as key factors behind the significant price target increase, which represents 15 times Piper Sandler’s 2026 revenue estimate, up from approximately 8 times previously. The stock currently trades at a P/E ratio of 71, while revenue growth stands at 76% over the last twelve months. Get deeper insights into Coinbase’s valuation metrics with InvestingPro, which offers 16+ additional key insights for this stock.

Despite the higher price target, Piper Sandler maintained its Neutral stance on Coinbase, noting that much of the potential upside is already priced into the stock following its recent rally.

The firm expressed concern that consensus estimates for Coinbase in 2026 may be too high, highlighting that the company remains primarily a retail crypto trading business that is sensitive to volatile cryptocurrency prices and trading volume trends.

Piper Sandler kept its earnings per share estimates for Coinbase unchanged at $2.09 for 2025 and $2.13 for 2026, while acknowledging the company’s position as a potentially dominant player in the crypto and digital asset space over the long term.

In other recent news, Coinbase Global Inc. has seen its stock price target significantly increased by two analyst firms. Cantor Fitzgerald raised its target to $500 from $292, citing a revised earnings estimate for 2026 and increased stablecoin revenue as key factors. The firm also noted a perception shift viewing Coinbase as a crucial infrastructure layer for cryptocurrency. Similarly, Rosenblatt increased its target to $470 from $300, attributing this to Bitcoin’s new all-time highs and Coinbase’s addition to the S&P 500. Rosenblatt highlighted the potential for further earnings growth due to increased trading volumes and stablecoin growth.

In legislative developments, a new U.S. bill regulating stablecoins was signed into law, expanding the Commodity Futures Trading Commission’s oversight of the digital asset industry. This regulation, known as the GENIUS Act, aims to provide a clearer framework for cryptocurrency operations. The bill’s passage is seen as a significant win for the cryptocurrency sector, which has long sought regulatory clarity. These developments underscore the evolving landscape for Coinbase and the broader cryptocurrency market.

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