Coinbase (COIN) price target, estimates lifted by KBW analysts

Keefe, Bruyette & Woods (KBW) lifted their 12-month target price on Coinbase Global (NASDAQ: COIN) from $160 to $130. The upward revision came alongside a lift in revenue and adjusted EBITDA estimates.

“We are raising our COIN estimates to reflect full quarter volumes and EOP USDC balances,” analysts led by Kyle Voigt said.

“However, we won't know the split between retail and institutional transaction volumes until COIN's earnings print, and this mix could still drive significant revenue variances vs. our estimate for the quarter,” they added.

The investment bank increased its COIN earnings per share (EPS) forecast for 2024 from $1.84 to $4.15, and for 2025 from $1.20 to $3.33.

Moreover, they have rolled an EPS estimate for 2026 at $3.74, marking an 11.7% growth over the 2025 estimate.

The adjustments are mainly attributed to the anticipated growth in the company’s USDC balances and a more optimistic outlook on transaction volumes, as well as the rise in crypto asset prices in the first quarter.

By Vahid Karaahmetovic

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