Coinbase stock surged to a yearly high after Bernstein analysts cited its dominant position in the crypto industry and raised their price target to $510.
By Parth Dubey
Editor Yana Khlebnikova
Updated
2 mins read
Coinbase (COIN) shares have reached a yearly high after Bernstein analysts raised their price target from $310 to $510, citing newer earnings projections. They noted the exchange’s dominant position in the crypto industry and called it the “Amazon” of crypto financial services.
According to CNBC, Bernstein recently highlighted Coinbase as the most misunderstood stock in their crypto coverage. They praised the company’s expansive role in the crypto ecosystem, including retail and institutional trading, custody services, and blockchain infrastructure.
Latest market data suggests that COIN closed at $355.37 on June 25, marking a 3.06% gain with a rise of $10.55. The upward momentum appears to be continuing in pre-market trading, where the stock is currently valued at $358.40, up by another 0.85%.
Coinbase stock price | Source: Google Finance
This surge brings the stock within striking distance of its all-time high closing price of $357.39, set in November 2021. Coinbase is currently the only digital asset firm listed in the S&P 500, and serves as custodian for most U.S. spot bitcoin ETFs.
Earlier this week, Benchmark analyst Mark Palmer also shared his bullish case for COIN, keeping a Buy rating on the shares. The firm has raised its price target from $301 to $421.
Beyond simple crypto trading, Coinbase now operates Base—a layer-2 blockchain—along with a fast-growing institutional custody business and a Prime lending desk. These ventures have positioned the company as a major crypto service provider, comparable to Amazon in its industry dominance and product diversity.
CEO Brian Armstrong echoed this sentiment in a recent post on X, noting that Coinbase now powers crypto services for around 200 banks, brokerages, and fintech firms.
Under appreciated: @coinbase is powering crypto integrations for ~200 banks, brokerages, fintechs, and payment companies. Come chat with us if we can help integrate crypto into your organization (link in follow on post) pic.twitter.com/0O5IBumFRn
— Brian Armstrong (@brian_armstrong) June 25, 2025
Meanwhile, the broader cryptocurrency-based stocks are also enjoying renewed optimism. Circle Internet Group, the issuer of USDC stablecoin, has recorded a massive success since its IPO earlier this month.
Circle stock, which trades under the ticker CRCL, has surged over six times from its launch price. Interestingly, this price spike has indirectly benefited Coinbase, which holds an equity stake in the company.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.
