Coinbase Stock Rises 8% Following Goldman Sachs Upgrade

Coinbase Stock Jumps 8% After Goldman Sachs Upgrades COIN to Buy

Coinbase experienced an 8% increase in its stock price on Monday after Goldman Sachs raised the crypto exchange’s rating from “neutral” to “buy.” This decision reflects Goldman Sachs' growing confidence in Coinbase's diversification strategy and its long-term position within the digital asset landscape.

Key Takeaways:

Coinbase stock climbed 8% after Goldman Sachs upgraded it to “buy” and adjusted its 12-month price target to $303.
Goldman Sachs anticipates benefits for Coinbase as it diversifies beyond just trading.
The bank expects to see broader adoption of cryptocurrency by 2026, aided by regulatory advancements.

In a client note, analyst James Yaro of Goldman Sachs expressed “selective optimism” for U.S. brokers and firms in what he described as a “structurally growing crypto infrastructure,” with Coinbase identified as a significant beneficiary of this trend. Along with the rating upgrade, Goldman increased its target price for Coinbase’s stock (COIN) to $303, up from $294.

Coinbase Stock Ends Day on a High Note

On the trading day in question, Coinbase's stock closed with an 8% gain, reaching $254.92, with minimal movement in after-hours trading. At this price point, Goldman’s adjusted target suggests an estimated upside of around 18%.

Yaro noted Coinbase’s initiatives to grow beyond spot crypto trading, emphasizing its efforts in infrastructure development, tokenization, and prediction markets as potential avenues for growth. He mentioned that companies capable of generating revenue from various aspects of the crypto economy might be better positioned as the market evolves.

Coinbase's CEO, Brian Armstrong, has recently reiterated this growth strategy, aiming to transform the company into an “everything exchange.” According to Armstrong, Coinbase intends to focus on stablecoins, expand its exchange services, and enhance its Ethereum layer-2 network, Base, as it heads into 2026.

The company has already made strides in this direction. Earlier this year, Coinbase partnered with Kalshi to integrate prediction markets into its platform, tapping into one of the fastest-growing sectors in cryptocurrency for 2024.

Broader Outlook for Cryptocurrency Adoption

Goldman Sachs’ positive outlook isn’t limited to Coinbase. Yaro noted in his report that the bank expects wider cryptocurrency adoption to unfold by 2026, driven by increased engagement from retail and institutional investors. He highlighted ongoing regulatory developments in the U.S. as a potential catalyst for this shift, especially the pursuit of clearer market structure rules.

“Our base case assumes further reforms in cryptocurrency regulations, which could enable broader adoption and use cases beyond just trading, particularly among institutional players,” Yaro mentioned. However, he cautioned that failing to enact crucial legislation, including a proposed crypto market structure bill in Congress, could pose significant challenges for the industry.

According to data from TipRanks, Yaro has achieved a 62% success rate in stock ratings, with an average annual return nearing 16%, adding credibility to his recommendation.

Coinbase Expands Operations to Singapore

Coinbase has also announced the launch of Coinbase Business in Singapore, marking its first international expansion of a platform aimed at businesses. This initiative allows local startups and small enterprises to benefit from instant USDC payments, global transfers, automated accounting integrations, and a suite of tools tailored for companies managing digital assets daily.

This launch is part of Coinbase’s collaboration with the Monetary Authority of Singapore through the BLOOM Initiative, which seeks to enhance compliant cross-border digital payment systems. The platform provides USDC-based global payouts, more affordable international transactions, and an API for streamlined payroll and vendor management, all supported by real-time SGD banking services via Standard Chartered.

The introduction of this platform aligns with Singapore’s rapidly growing innovation economy, delivering a comprehensive financial solution that merges fiat and cryptocurrency under established regulatory frameworks.