Can Coinbase Reach $440? Citizens JMP's Top Analyst Says Yes
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Ryan is a five-star analyst on TipRanks, ranking #7 out of 9,861 analysts tracked. He boasts a 71% success rate and an impressive average return per rating of 32.90%.
Here Are Ryan's Bullish Views on COIN Stock
Ryan highlighted that the digital asset industry is steadily evolving from a speculative bet to mainstream adoption. With more regulatory frameworks set to moderate the financial services industry, the adoption of digital assets is expected to increase further. For instance, the passage of the GENIUS Act is poised to be highly beneficial for the stablecoin market, where Coinbase, along with its partner Circle Internet (CRCL), is a large player.
Moreover, the analyst believes that in the second half of this year, growth prospects for the sector will strengthen, given the combination of new regulations, advanced infrastructure, and evolving business models. Despite these positive sentiments, the industry is expected to remain underestimated over the next few years, he added. The analyst also increased his earnings per share (EPS) estimates for fiscal 2025 from $5.83 to $6.39, and for fiscal 2026 from $10.25 to $10.45.
Furthermore, Ryan is highly encouraged by the solid recovery in the capital markets, with merger and acquisition (M&A) activity up 20% over the first half of last year and on track to reach $4.3 trillion this year. At the same time, the initial public offering (IPO) market is off to a strong start this year, following a three-year lull, with the number of U.S. IPOs up 80% year-over-year.
Is COIN a Good Stock to Buy?
Analysts remain divided about Coinbase Global's long-term stock trajectory. On TipRanks, COIN has a Moderate Buy consensus rating based on 12 Buys, 11 Holds, and one Sell rating. Also, the average Coinbase Global price target of $306.38 implies 20.8% downside potential from current levels. Year-to-date, COIN stock has surged 55.9%.
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