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Coinbase gets PT upgrade amid crypto optimism

ReutersJul 21, 2025 11:41 AM

Analysts at Piper Sandler raise Coinbase Global COIN.O PT to $350 from $190, reflecting a more bullish stance on digital assets and peer multiple expansion

Shares up 2% in premarket trading

COIN remains heavily reliant on retail crypto trading, making it vulnerable to crypto price and volume volatility

Heading into earnings, analysts are cautiously optimistic about the broader crypto space

"While there remains lots of positive momentum in the digital asset space — with legislative progress and growing institutional adoption — we remind investors of bitcoin's historically predictable cyclicality around 'halving events' which tells us we may be approaching the late innings of this bull run"

Brokergae maintains a "neutral" rating, citing concerns that much of the upside is already priced in and that 2026 consensus EPS estimates may be too high

As of last close, COIN up over 69% YTD

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