Bank of America (BofA) has upgraded its rating for Coinbase's stock (COIN) from "neutral" to "buy," setting a price target of $340, which represents a potential 40% upside from its current level around $245. This follows a similar bullish call from Goldman Sachs, which upgraded the stock and set a target of $303, a 28% increase. These upgrades come after COIN's price crashed by nearly 50% from its July 2025 high of $444, reaching a low of $225 during the late 2025 crypto market correction.
BofA analyst Jason Kupferberg cited Coinbase's push towards becoming an 'everything exchange' with new product offerings, including prediction markets and stock/ETF trading, as key catalysts. He also highlighted the monetization of its Base layer-2 blockchain and the launch of Coinbase Tokenize as crucial moves positioning the exchange to lead in the expected tokenization boom. "While the stock is off 40% from its July highs, under the surface of the 4Q25 crypto correction the company’s product velocity has increased, and its TAM expanded in parallel," Kupferberg noted.
The broader analyst consensus remains positive, with 20 Wall Street analysts, including those from Bernstein, Needham, Cantor Fitzgerald, and Citigroup, issuing buy ratings. The consensus price target stands at $376, a 52% upside. Analysts point to Coinbase's dominant U.S. market share, its role as a trusted TradFi partner, and a favorable regulatory environment under the pro-crypto Trump Administration as long-term tailwinds.
However, analysts also caution about significant headwinds, including rising competition from traditional finance giants like SoFi, Charles Schwab, and Vanguard, the potential expansion of Binance US, and the risk of a deeper crypto market correction. Technical analysis of the stock chart indicates continued near-term pressure, with COIN trading below all key moving averages and having formed a death cross pattern, potentially targeting the December low of $225.
