Coinbase’s stock price will surge by 212% to hit $440, according to Bernstein.
The research and brokerage firm revealed the price target in a Friday note to investors shared with DL News. The analysts provided no timeline for when Coinbase may achieve the stock price, which reached a record closing price of $444 in July.
Bernstein’s forecast comes on the back of the leading US crypto exchange reporting that its losses grew to $667 million in the fourth quarter of 2025, a 151% drop from the last three months of 2024.
“Unfortunately, with COIN fully exposed to crypto markets, there is nowhere to hide,” Gautum Chhugani and his three Bernstein colleagues wrote in the note.
Yet, the analysts argued that Coinbase’s balance sheet remains strong, and that they expect the market to recover later in 2026 and 2027.
“Hence, we would wait out the crypto volatility and take the pain here, rather than panic close to the market lows,” they wrote.
Bernstein’s price target injects some much needed optimism into the crypto industry’s narrative. Cryptocurrencies have lost $2 trillion, or roughly half, of their combined total value since October. Bitcoin is down 47% in the same period.
Some suggest that the market is in for more pain. Even so, Bernstein’s analysts argue that not only will the market recover, but that Coinbase has already launched a smattering of initiatives that will position it to capitalise on the next rally.
That includes acquisitions like its $2.9 billion purchase of crypto options exchange Deribit, and launching its prediction market and stock market-trading services.
“The goal is to position Coinbase as the single trusted venue for trading the full range of assets customers want — crypto, derivatives, equities, and prediction markets,” Bernstein wrote.
