Bank of America analyst Craig Siegenthaler updated the price target for Coinbase Global to $203, increasing it from the previous $174. The financial institution maintains a Buy rating on the stock as of October 5, 2026.
The upward revision is driven by expected revenue growth from stablecoins following the Federal Reserve's interest rate hike in September 2026. Consequently, the bank increased its earnings per share estimates for Coinbase for 2027 and 2028.
Despite a 43% rise in Bitcoin and a 70% increase in Ether during the third quarter, BofA lowered its near-term forecasts due to declining trading volumes. The bank notes that the historical correlation between asset prices and exchange volume has weakened.
Coinbase reported first-quarter revenue of $1.41 billion with a GAAP net loss of $394 million, compared to $2.03 billion in revenue and a profit of $65.61 million in the same quarter of the previous year.
Other financial institutions maintain varying outlooks on the stock, with Citizens JMP holding a Buy rating and Barclays assigning a Sell rating. BofA's target has fluctuated throughout 2026, starting at $340 in January and reaching $218 in May.
