BofA Raises Coinbase Price Target to 203 on Stablecoin Revenue Optimism

BofA Securities raised its price target for Coinbase (ISIN US19260Q1076) from USD 174 to USD 203 on October 5, 2026, while maintaining a Buy rating. The upgrade was driven by stronger forecasts for Coinbase's stablecoin revenue, leading BofA to increase its 2027 adjusted earnings per share estimate to USD 3.46 from USD 3.07. The 2028 estimate also rose to USD 6.76 from USD 5.81, with the valuation method remaining at 30 times estimated 2028 earnings per share.

Despite the positive outlook, BofA cut its third-quarter 2026 adjusted earnings per share estimate to a loss of USD 0.24 from a loss of USD 0.22 and reduced its full-year 2026 estimate to a loss of USD 0.73 from a loss of USD 0.71. The adjustments were attributed to lower trading volumes. Coinbase reported USD 1.22 billion in revenue for the second quarter of 2026, down from USD 1.50 billion a year earlier, and posted a net loss of USD 359.5 million, compared to net income of USD 1.43 billion in the second quarter of 2025.

The next reporting date is expected on October 29, 2026, which will test whether stablecoin and subscription revenue can offset weaker trading activity and the second-quarter loss. As of October 6, 2026, Coinbase stock was trading at EUR 167.01 at Lang & Schwarz, down 0.24 percent from the prior close of EUR 167.42. The company had a market capitalization of USD 49.7 billion as of October 5, 2026, with a 52-week range of USD 139.11 to USD 402.16.