Bernstein Initiates Coverage on Coinbase With $310 Price Target, Citing Regulatory Tailwinds
Brokerage firm Bernstein has initiated coverage on Coinbase (COIN) with an outperform rating and a $310 price target, highlighting the exchange’s strong positioning as the U.S. crypto industry moves toward financial mainstream adoption.
According to Bernstein’s report released Monday, improved regulatory clarity under the Trump administration is expected to fuel the growth of digital assets, positioning Coinbase as a key beneficiary. The firm noted that about 41% of Wall Street analysts have a buy rating on COIN, with 7% recommending a sell and the rest holding, per FactSet data. Despite the bullish outlook, Coinbase shares dipped 2% to $185.20 in early trading.
The report acknowledged that clearer regulations will invite increased competition from fintech firms, traditional brokers, and banks. However, analysts led by Gautam Chhugani believe that a “strong bull market and rising U.S. onshore dominance” will more than compensate for any market share or pricing pressure Coinbase may face.
The Trump administration has pledged to establish the U.S. as the “crypto capital of the world,” a stance that has already begun shaping regulatory developments. The Securities and Exchange Commission (SEC) has formed a dedicated crypto task force, led by Commissioner Hester Peirce, to create new industry regulations, further solidifying expectations for a favorable business environment.
Beyond trading, Bernstein highlighted Coinbase’s successful expansion into U.S. dollar stablecoins and crypto yield-generating services such as staking. The firm expects the exchange to achieve a 31% compound annual growth rate (CAGR) in non-trading revenues between 2024 and 2026, which it believes will help balance the cyclical nature of trading revenue.
Additionally, Coinbase recently secured Financial Intelligence Unit (FIU) registration, paving the way for its re-entry into the Indian market. The company announced this milestone in a blog post earlier this month, signaling its commitment to global expansion.
With increasing institutional adoption and regulatory clarity on the horizon, Bernstein sees significant upside potential for Coinbase, reinforcing its bullish stance on the stock.
