Coinbase (COIN) Soars Again : Is the $510 Target Now Within Reach ?
Coinbase: The Amazon of Crypto? Bernstein sets $510 target. Coinbase, a leading cryptocurrency exchange, caught Bernstein analysts' attention as they raised the price target...
Coinbase : The Amazon of Crypto ? Bernstein Sets $510 Target
The cryptocurrency exchange platform Coinbase has recently caught the attention of Bernstein analysts, who have raised the price target of COIN by 64%, setting it from $310 to $510. According to Bernstein, Coinbase could benefit from the growth of stablecoins and holds a strong competitive advantage in the institutional cryptocurrency sector.
Despite its exceptional position, Coinbase is often underestimated, according to Bernstein analysts. As the only listed crypto company in the S&P 500, Coinbase dominates the stablecoin market on exchange platforms, accounting for nearly 15% of its total revenue. Additionally, Coinbase plays a significant role in the institutional cryptocurrency sector, including safeguarding funds for 8 out of 11 Bitcoin ETF managers.
Growth Outlook and Valuation
Bernstein predicts that Coinbase’s total revenue will reach $9.5 billion by the end of 2025 and $14.5 billion by 2026. This growth will be driven by increased trading revenue and non-trading revenue streams such as staking and stablecoins. Regarding earnings per share (EPS) forecasts, analysts estimate that adjusted EPS for 2025 could reach $11.26.
Despite these optimistic outlooks, Bernstein downplays the competitive risks facing Coinbase, stating that competition from Robinhood and other traditional brokers is still distant. Currently, Coinbase’s pre-market value is at $357, hinting at a potential 43% upside to reach Bernstein’s set target of $510.
In conclusion, Coinbase appears well positioned to capitalize on the favourable cryptocurrency market trends, and the $510 price target set by Bernstein reflects confidence in the platform’s ability to continue its positive trajectory.
Charles Ledoux
Charles Ledoux is a Bitcoin and blockchain technology specialist. A graduate of the Crypto Academy, he has been a Bitcoin miner for over a year. He has written numerous masterclasses to educate newcomers to the industry and has authored over 2,000 articles on cryptocurrency. Now, he aims to share his passion for crypto through his articles for InvestX.
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This article is for informational purposes only and should not be considered as investment advice. Some of the partners featured on this site may not be regulated in your country. It is your responsibility to verify the compliance of these services with local regulations before using them.
DISCLAIMER
This article is for informational purposes only and should not be considered as investment advice. Trading cryptocurrencies involves risks, and it is important not to invest more than you can afford to lose.
InvestX is not responsible for the quality of the products or services presented on this page and cannot be held liable, directly or indirectly, for any damage or loss caused by the use of any product or service featured in this article. Investments in crypto assets are inherently risky; readers should conduct their own research before taking any action and invest only within their financial means. This article does not constitute investment advice.
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