BofA Lifts Coinbase Price Target to $203 Amid Stablecoin Rebound

BofA Securities has raised its price target for Coinbase shares to $203 from $174, while maintaining a Buy rating on the cryptocurrency exchange operator. This decision is based on the firm's higher forecasts for stablecoin revenues following the September Federal Reserve rate hike.

The bank increased its 2027 and 2028 earnings per share estimates for Coinbase to $3.46 and $6.76 from $3.07 and $5.81, respectively. However, BofA also lowered its third-quarter 2026 and full-year 2026 EPS estimates to -$0.24 and -$0.73 from -$0.22 and -$0.71 due to lower trading volumes.

Crypto industry spot volumes totaled $2.4 trillion in the third quarter of 2026, with $142 billion at Coinbase, compared to $2.6 trillion in the second quarter, with $144 billion at Coinbase. The decline in volumes occurred despite a rally in Bitcoin and Ethereum prices, which rose 43% and 70%, respectively, in the third quarter of 2026.