Bernstein analysts have raised their price target for Coinbase Global Inc. (NASDAQ:COIN) to $510, citing accelerating growth in the company’s derivatives business and non-trading revenue streams.
The updated price target marks a significant jump from the previous $310 target, reflecting Bernstein’s increased confidence in Coinbase’s evolving position as a leading crypto financial services platform.
Bernstein now values Coinbase at a price-to-earnings multiple of 25x based on 2027E earnings, up from its previous estimate of 21x on 2026 earnings, aligning the crypto exchange’s valuation with its fintech and broker peers.
The brokerage house highlighted several drivers behind the target upgrade, including faster-than-expected revenue …