Analysts shows confidence in S&P entrant, raising target by 15%
Analysts shows confidence in S&P entrant, raising target by 15% originally appeared on TheStreet.
The analysts at Cantor Fitzgerald have raised their 12-month price target for Coinbase (Nasdaq: COIN) from $253 to $292.
Founded in 2012, Coinbase is the largest crypto exchange in the U.S. that went public in April 2021. Last month, it emerged as the first public crypto company to earn a spot on the S&P 500 index.
Cantor Fitzgerald analysts led by Brett Knoblauch wrote in a recent note to clients that over the long term, Coinbase's trading activities will allow it to increase its market share and its activities outside of trading will materially alter "how investors view COIN."
Though the analysts at Cantor lowered their revenue estimates for the crypto exchange by nearly 4%, they doubled down on an "overweight" rating on COIN.
The note also mentions that the analysts don't expect "material upside" from these new products this year, but there could be a "profound" shift in investor perception by the second half of 2026 and into 2027.
During the company's 2025 State of Crypto Summit, it announced on 12 June a partnership with Shopify to help merchants accept payments in USDC, a stablecoin issued by Circle (NYSE: CRCL). The service is available to early access merchants at Shopify and will expand to stores across the globe running Shopify Payments later this year.
The exchange also launched a credit card the same day. Called the Coinbase One Card, it claims to give users a chance to earn up to 4% in Bitcoin rewards on every purchase.
The COIN stock closed at $242.71 on 13 June as the Israel-Iran conflict shook the markets.
Analysts shows confidence in S&P entrant, raising target by 15% first appeared on TheStreet on Jun 13, 2025
This story was originally reported by TheStreet on Jun 13, 2025, where it first appeared.
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