Coinbase Stock Needs Multiple Expansion to Reach $250

Coinbase (NASDAQ:COIN) is currently trading at $188.12, down 38.23% from its 52-week peak.

The company reported a GAAP loss of $1.36 per share in Q2 2026, missing estimates and contributing to its struggling stock price.

Despite this, the analyst consensus remains cautiously optimistic, with a median target price of $196.55, representing only 4% upside.

However, our internal model predicts a higher target price of $212.67, based on a blend of analyst targets and market trends.

To reach $250 per share, Coinbase would need to see significant multiple expansion, potentially driven by the scaling of prediction markets and perpetual futures, as well as the renewal of the Circle contract.