Cantor Fitzgerald Boosts Coinbase Price Target to $212 Amid Crypto Market Surge

Cantor Fitzgerald has raised its price target for Coinbase Global Inc. (NASDAQ:COIN) to $212 from $184, while maintaining an Overweight rating on the stock.

The move comes after Coinbase updated its guidance for the third quarter, which includes subscription and services revenue of approximately $500 million to $580 million, transaction expenses in the mid-teens as a percentage of net revenue, adjusted expenses of approximately $980 million to $1.08 billion, and stock-based compensation of approximately $245 million.

The price target is based on 19 times Cantor Fitzgerald's calendar year 2027 adjusted EBITDA estimate of $2.68 billion, plus a discounted cash flow analysis.