Coinbase Stock Predicted to Rebound to $211.36
Coinbase (NASDAQ:COIN) has been hit hard in recent months, with its stock price sitting near a 52-week low after a disappointing earnings report and a downturn in the crypto market.
According to our analysis at 24/7 Wall St., Coinbase's share price could be headed for a rebound, with a predicted target of $211.36 over the next 12 months, representing a potential upside of 41.81% from its current price of $149.04.
We believe that despite recent weakness, Coinbase is poised to continue taking market share and growing its subscription and services base, which now accounts for 48% of net revenue.
Our bull case scenario puts the company's stock at $360.84, roughly double its current price, assuming a continuation of its strategy execution and normalization of crypto volumes.