Coinbase Shares Fall, But Analysts Predict Potential for $300 Price Target

Coinbase's shares are currently trading at $190.18, down 39% from its 52-week high of $402.16.

The company's co-founder and chief executive, Brian Armstrong, has been working to turn Coinbase into an 'everything exchange,' reducing its reliance on Bitcoin transactions which used to bring in more than half of revenue but now make up only 12% of the business.

To reach a price target of $300 by 2027, several conditions need to align, including a recovery in crypto volumes and increased analyst estimates for the company's earnings per share (EPS).

Coinbase has historically surged by 391% in a single year when crypto activity turns, with its beta currently sitting at 3.4.