Coinbase Holds 'Institutional Trust' in Cryptocurrency, Yet Three Public Competitors Are Set to Challenge This Assertion
Written by Emily J. Thompson, Senior Investment Analyst
Source: Yahoo Finance
Updated: Nov 08 20250mins
Earnings Performance: Coinbase Global Inc. reported strong Q3 earnings, surpassing Wall Street profit estimates due to increased trading volume, but faces heightened competition as rival exchanges go public.
Regulatory Impact: The recent regulatory clarity in the crypto market is driving growth but also attracting new competitors, challenging Coinbase's market dominance and premium pricing.
Market Position: Despite being the most trusted crypto company among institutions, Coinbase is now ranked third among global crypto exchanges, trailing behind Binance and Bybit.
Strategic Acquisitions: Coinbase is actively expanding its market presence through acquisitions, including a $2.9 billion purchase of Deribit and a $375 million investment in Echo, to enhance its offerings in a competitive landscape.
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Analyst Views on COIN
Wall Street analysts forecast COIN stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for COIN is 400.63 USD with a low forecast of 266.00 USD and a high forecast of 510.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
22 Analyst Rating
15 Buy
6 Hold
1 Sell
Moderate Buy
Current: 274.050
Low
266.00
Averages
400.63
High
510.00
Current: 274.050
Low
266.00
Averages
400.63
High
510.00
Argus
Buy
to
Hold
downgrade
2025-11-25
Reason
Argus
Price Target
2025-11-25
downgrade
Buy
to
Hold
Reason
Argus downgraded Coinbase to Hold from Buy.
Argus
Kevin Heal
Buy
to
Hold
downgrade
2025-11-25
Reason
Argus
Kevin Heal
Price Target
2025-11-25
downgrade
Buy
to
Hold
Reason
Argus analyst Kevin Heal downgraded Coinbase to Hold from Buy with no price target. The company is the leading cryptocurrency trading platform and USDC - the number 2 dollar-backed stablecoin in the world - saw continued momentum, but the stock is trading at 39-times expected forward earnings, which is well above the 24- to 27-times multiples of the other exchanges, the analyst tells investors in a research note.
Goldman Sachs
Neutral
downgrade
$368 -> $314
2025-11-21
Reason
Goldman Sachs
Price Target
$368 -> $314
2025-11-21
downgrade
Neutral
Reason
Goldman Sachs lowered the firm's price target on Coinbase to $314 from $368 and keeps a Neutral rating on the shares. Brokers and crypto stocks have dropped about 15% since mid-October despite higher forward estimates, as valuation multiples compressed sharply amid volatile equity and crypto markets, the analyst tells investors in a research note. While near-term pressure is likely to persist until markets stabilize, the group's long-term outlook remains supported by strong product innovation, large addressable markets, regulatory momentum, and continued inorganic growth, Goldman says.
Erste Group
analyst
Buy
to
Hold
downgrade
2025-11-20
Reason
Erste Group
analyst
Price Target
2025-11-20
downgrade
Buy
to
Hold
Reason
Erste Group downgraded Coinbase to Hold from Buy. While Coinbase is benefiting from the increasing spread of cryptocurrencies, the increasing supply of low-cost bitcoin ETFs is jeopardizing "lucrative" private customer revenues that are an important source of income and replacing this business with ETF providers will "significantly" reduce profitability, the analyst tells investors.
See All Ratings
About COIN
Coinbase Global, Inc. is a holding company of Coinbase, Inc. and other subsidiaries. The Company provides a platform for its customers to engage with crypto assets and offers critical infrastructure for the onchain economy. It offers products and services to three customer groups: Consumers, Institutions, and Developers. Consumers include retail customers seeking to invest in or trade crypto assets and engage onchain. Institutions consist of businesses that include market makers, asset managers, hedge funds, banks, wealth platforms, registered investment advisors, payment platforms, and public and private corporations. Developers include entrepreneurs, creators, merchants, crypto asset issuers, organizations and financial institutions, and other groups building decentralized protocols, applications, products, or other services onchain. Its transaction products include prime trading, base protocol, Coinbase Wallet, and others. It also offers subscription products and other services.
About the author
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Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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