Coinbase jumps 8% after Goldman Sachs raises rating to Buy

Coinbase shares advanced 8% on Monday after Goldman Sachs upgraded COIN to “buy” from “neutral” and raised its 12-month price target to $303 from $294, citing the company’s growing diversification. COIN ended the session up 8% at $254.92, with limited movement in after-hours trading. At the latest closing price, the new target implies an approximately 18% upside over the next year.

The change in rating was detailed in a report by Goldman Sachs analyst James Yaro, who expressed selective optimism toward U.S. brokers and crypto infrastructure businesses, including Coinbase.

Yaro pointed to potential growth areas such as infrastructure, tokenization, and prediction markets, noting Coinbase’s efforts to build beyond traditional crypto trading.

Coinbase CEO Brian Armstrong recently outlined plans to accelerate the firm’s “everything exchange” strategy, prioritizing stablecoins, expanding exchange services, and advancing its Ethereum layer-2 network, Base, through 2026.

The company also integrated prediction markets in partnership with Kalshi as it moved to participate in one of the crypto sector’s faster-growing areas last year.

Goldman Sachs expects broader crypto adoption in 2026

Goldman Sachs anticipates increased retail and institutional participation in 2026 amid U.S. regulatory developments that could support the sector, according to Yaro. The bank’s base case includes additional crypto regulatory reforms that enable wider use cases beyond trading, particularly among institutions, while noting that failure of the U.S. Congress draft crypto market structure bill could pose a significant headwind.

TipRanks data show Yaro has a 62% success rate and an average annual return of nearly 16%.

Source: Matthew Sigel

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