Key highlights:
- Coinbase stock is poised to surge from $165 to $270, according to Benchmark’s Palmer.
- The exchange’s efforts to establish an Everything Exchange could drive growth.
- Other Wall Street giants like Cantor Fitzgerald and Bernstein also maintain a positive outlook.
Coinbase stock has posted significant declines in the first half of 2026. Despite a substantial $394 million net loss in Q1, investment firm Benchmark remains confident about the crypto exchange’s future.
Notably, Benchmark posited that the Coinbase stock is poised to see significant growth from its current level, setting the target at a remarkable $270. Analyst Mark Palmer argued that Coinbase is currently evolving into a broader on-chain infrastructure business, expanding its services beyond crypto. This, according to the analyst, will drive massive growth in the company’s shares.
Coinbase stock price to surge 60%, says Benchmark analyst
While Coinbase registered $394 million net loss in the first quarter, experts from Benchmark remain bullish about the stock. Highlighting Coinbase’s vision of transforming into an “Everything Exchange,” analyst Mark Palmer sees 60% upside in COIN stock with a $270 price target.
“The ambition on display was sweeping enough to put every brokerage, bank, and fintech in the country on notice. The company unveiled a suite of products spanning stocks, derivatives, artificial intelligence, and consumer finance, extending the strategy it first announced last December and pushing the platform well beyond crypto into every asset class it can reach.”
Significantly, Palmer pointed out Coinbase’s vision and latest developments. According to him, the Coinbase stock has the potential to grow as the company itself is making notable efforts. He bases his projection based on the company’s long-term vision rather than its recent performance in Q1. In addition to the $394 million losses, the exchange reported $755.8 million in revenue, failing to meet expectations.
Currently, the Coinbase stock is valued at $164.92, much lower than Palmer’s projection. While the current price is down by about 2.57% in a day, the shares have seen a notable 6.1% gain over the past 24 hours.
How is Coinbase expanding beyond crypto trading?
Recently, Coinbase announced a wide range of new services during its product event on Tuesday. The exchange intends to become a one-stop platform, benefitting investors in both crypto and traditional financial assets.
Among the announcements, the upcoming launch of tokenized US stocks took centre stage. The exchange claimed that these digital shares will be different from the existing tokenized stocks. This is because Coinbase’s tokenized stocks will be fully backed 1:1 by real equities and will automatically pay dividends.
Coinbase is also planning to open options trading for both crypto and traditional stocks. Once started, users can move their existing stock portfolios onto Coinbase. This could make it easier to manage multiple asset classes from a single platform. The team has also introduced other features like staked Solana-backed loans, a travel portal for Coinbase One Card users, USDC-backed credit, and new short-term contracts.
Interestingly, the Benchmark analyst sees these developments as a positive catalyst for the Coinbase stock price. He stated:
“In our view, the company’s update yesterday provided the clearest evidence yet that it is rapidly evolving from a cyclical crypto brokerage into a foundational infrastructure platform linking the emerging on-chain economy to the traditional one.”
Wall Street remains bullish on Coinbase’s expansion plans
Apart from Benchmark, other Wall Street analysts also remain bullish about Coinbase. Platforms like Rosenblatt and Deutsche Bank also maintain an optimistic outlook, arguing that the company holds large growth potential, citing recent developments.
According to them, the Coinbase stock may present a remarkable opportunity for investors. Analysts from Bernstein and Cantor Fitzgerald share a similar view to Mark Palmer. Bernstein maintains the highest target for the Coinbase stock price at $330. The analyst believes that the exchange’s exposure to stablecoins, custody, and institutional services could drive the Coinbase stock price up.
At the same time, Cantor Fitzgerald keeps its target at $250. According to the analyst, even though the current weakness in the crypto market could negatively affect the Coinbase stock in the short term, the company’s expansion activities could drive growth.
Source:: Benchmark Sees 60% Upside in Coinbase Stock with $270 Target Despite $394M Q1 Loss