HC Wainwright Raises Coinbase Target to $425 Post-Q3 Beat
HC Wainwright upgraded Coinbase shares to buy and raised its price target to $425 from $300 after the crypto exchange reported stronger-than-expected Q3 earnings of $1.9 billion revenue. The new Coinbase target reflects robust institutional demand, higher user engagement and transaction volumes, seasonal bullish trends and potential US regulatory breakthroughs. H.C. Wainwright forecasts 2025 revenue of $7.4 billion and applies a 13.1× EV/revenue multiple to its 2026 estimate of $9.1 billion. Risks include retail trading volatility, changing regulation and market competition. Traders should monitor global crypto regulation developments, institutional adoption rates, major cryptocurrency performance and Coinbase product innovations. This upgrade may boost investor confidence but volatility and regulatory risks persist.
Bullish
HC Wainwright’s upgrade and higher price target signal strong institutional backing and a positive outlook for Coinbase’s growth. The Q3 earnings beat and optimistic 2025–26 revenue forecasts support upward price momentum, while potential US regulatory breakthroughs could further validate the exchange’s valuation. Although volatility and regulatory risks remain, the endorsement may spur buying interest and boost market sentiment around COIN. In the short term, traders may push prices higher on renewed confidence, and over the longer term, sustained institutional adoption and regulatory clarity would reinforce the bullish case.