Coinbase Gets a Bigger Wall Street Price Target

Goldman Sachs Lifts Coinbase Target to $196

Analysts at Goldman Sachs raised their price target on Coinbase Global (Nasdaq: $COIN) on August 25. Goldman Sachs analyst James Yaro raised the Coinbase stock's price target 13% from $173 to $196 and kept a Buy rating. Goldman's new $196 target sits about 9.2% above Monday's closing price of $179.48.

Coinbase shares were trading at $184.47, up 2.80%, after briefly reaching $185 following the announcement. The bullish outlook comes as cryptocurrencies such as Bitcoin ($BTC) and Ethereum rally strongly, lifting the entire sector.

Derivatives and Prediction Markets in Focus

Goldman Sachs said Coinbase has further upside as the digital-asset market improves and newer businesses such as derivatives and prediction markets grow. The bank's broader outlook remains "cautiously optimistic," given structural growth in brokerage and prediction markets, potential crypto trading upside, and regulatory progress around the CLARITY Act.

Derivatives and prediction markets have emerged as key areas of focus for Coinbase, potentially diversifying revenue streams and reducing reliance on trading volume fluctuations. The Deribit acquisition previously made Coinbase the global leader in crypto derivatives, with institutional transaction revenue growing 37% year over year.

Other analysts have also issued higher price targets, with Bernstein's Gautam Chhugani setting a target of $330 on August 21, while DBS set a $200 target on August 13. Goldman's revised call adds further weight to a broadly constructive view on $COIN from the Street.

Sources:
Yahoo Finance: Goldman Sachs Reiterates Buy Ratings On Coinbase And Robinhood
CryptoTimes: Coinbase Stock Rises After Goldman Raises COIN Price Target to $196
TheStreet: 157-Year-Old Wall Street Giant Has a New Call on Coinbase and Robinhood