BofA Raises Coinbase Price Target to $203 Amid Stablecoin Revenue Bump
Bank of America (BofA) has raised its price target on Coinbase shares to $203 from $174, while maintaining a Buy rating on the cryptocurrency exchange operator. The stock currently trades at $183, down 52% over the past year, with InvestingPro data suggesting the shares may be overvalued at current levels based on its Fair Value analysis.
The firm increased its 2027 and 2028 earnings per share estimates for Coinbase to $3.46 and $6.76 from $3.07 and $5.81, respectively, reflecting higher forecasts for stablecoin revenues following the September Federal Reserve rate hike. Analysts do not anticipate the company will be profitable this year, with seven additional exclusive tips available to subscribers.
BofA 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.