Cantor Fitzgerald Boosts Coinbase Price Target to $212 Amid Crypto Rally

Cantor Fitzgerald has raised its price target for Coinbase Global Inc. (COIN) to $212 from $184, citing recent momentum in the crypto market.

The move reflects an increase in market multiples across the cryptocurrency ecosystem, with Bitcoin recently crossing the $80,000 threshold.

Coinbase's guidance for the third quarter 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 new price target is based on 19 times Cantor Fitzgerald's calendar year 2027 adjusted EBITDA estimate of $2.68 billion, as well as a discounted cash flow analysis.