Bitcoin’s price also rose in early morning trading, lifting crypto-linked equities higher.
- Goldman Sachs upgraded Coinbase to ‘Buy’ from ‘Neutral’ with a price target of $303, up from $294.
- The analysts described Coinbase as a “best-in-class play” in the growth of crypto infrastructure, citing its scale and brand strength.
- COIN was among the top trending tickers on Stocktwits in early morning trade, with retail sentiment improving to ‘neutral’ from ‘bearish’ territory over the past day.
Shares of Coinbase (COIN) rallied in pre-market trade on Monday after Goldman Sachs upgraded the cryptocurrency exchange, calling it a “best-in-class play” on the growth of crypto infrastructure.
COIN’s stock gained as much as 4.5% as Bitcoin (BTC) also rose in early morning trade. It was among the top trending tickers on Stocktwits at the time of writing. Platform data showed retail sentiment around the cryptocurrency exchange improved to ‘neutral’ from ‘bearish’ territory over the past day, amid ‘normal’ levels of chatter.
COIN Stock Upgrade
Goldman Sachs upgraded Coinbase to ‘Buy’ from ‘Neutral’ with a price target of $303, up from $294. It said that the company’s recent product launches enhance the competitiveness of its core business, as per a research note cited by TheFly.
At its ‘System Update’ keynote event in December, Coinbase outlined several new initiatives aimed at broadening its platform. The company said it would introduce stock trading, allowing users to transact directly using their balance on the platform, including USD Coin. Coinbase also announced a partnership with Kalshi to support prediction markets, echoing a similar step taken by Robinhood and Gemini in 2025.
Traders are also watching Coinbase’s international strategy. India’s Competition Commission recently approved Coinbase’s acquisition of a minority stake in CoinDCX, signaling renewed engagement with one of the world’s fastest-growing crypto markets.
‘Best-In-Class’ Crypto Play
Goldman Sachs said it views Coinbase as a “best-in-class play” on the growth of crypto infrastructure, with the company’s scale and brand recognition continuing to drive above-average revenue growth and market share gains.
This follows Coinbase CEO Brian Armstrong’s statement that he is looking to double down on making the platform an “everything exchange” in 2026 in a New Year’s post on X as it builds out stablecoin payments and onboards new users.
Needham, on the other hand, lowered its price target on Coinbase to $290 from $400 last week, citing weakness in crypto volumes for the next couple of quarters.
Koyfin data shows the average analyst price target stands at $365.17, implying about 54% upside from COIN’s Friday close.
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