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Investing.com - Rosenblatt raised its price target on Coinbase Global Inc. (NASDAQ:COIN) to $470 from $300 while maintaining a Buy rating on the stock. Currently trading at $398.20, Coinbase has achieved a market capitalization of over $101 billion, according to InvestingPro data.
The firm cited Bitcoin reaching new all-time highs amid favorable political tailwinds as contributing factors to Coinbase’s recent performance. The stock has demonstrated remarkable momentum, with InvestingPro data showing a 60% year-to-date return and currently trading just 1% below its 52-week high of $405.88.
The research firm noted that Coinbase’s status as the "blue-chip name" in the cryptocurrency sector and its recent addition to the S&P 500 this quarter have supported the stock’s performance. Rosenblatt also highlighted that legislative progress has continued to track ahead of expectations.
Trading volume has recently rebounded and stablecoin growth has re-accelerated, potentially adding upside to Rosenblatt’s estimates. The firm expressed optimism that Coinbase’s rapid product expansion will add earnings upside and drive further multiple expansion.
Despite the 60% year-to-date rise in Coinbase shares, Rosenblatt noted the stock currently trades at 24 times consensus 2026 adjusted EBITDA, which it considers "a reasonable multiple in this market especially for such a compelling growth story." InvestingPro analysis indicates the stock is trading above its Fair Value, with a P/E ratio of 68.65 and strong financial health metrics. For deeper insights into Coinbase’s valuation and 14+ additional ProTips, explore the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Coinbase Global Inc. has been the focus of several significant developments. Compass Point raised its price target for Coinbase to $330, citing the company’s integration with decentralized exchanges (DEX) as a key factor in addressing retail trading challenges. Argus initiated coverage on Coinbase with a Buy rating and a $400 price target, highlighting the company’s strong growth record and its inclusion in the S&P 500. Meanwhile, Citizens JMP lowered its price target to $400 from $475 but maintained a Market Outperform rating, emphasizing Coinbase as a long-term investment opportunity.
Coinbase also announced the acquisition of the leadership team from Opyn, a blockchain-based derivatives protocol, to enhance its on-chain capabilities. This marks Coinbase’s sixth acquisition of 2025 and aligns with its strategy to incorporate more blockchain technology into its operations. Additionally, Coinbase has partnered with Perplexity AI to offer traders real-time crypto data, enhancing market analysis and decision-making capabilities. This partnership aims to integrate Coinbase’s market data into Perplexity’s new Comet browser and future AI-powered interfaces. These recent developments underscore Coinbase’s ongoing efforts to innovate and expand its services within the cryptocurrency industry.
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