Coinbase Stock Soars 5.39% as Analysts Raise Price Targets

Coinbase Global Inc's stock surged by 5.39% on Monday as Wall Street analysts raised their price targets following recent upgrades from Goldman Sachs and Needham.

Goldman Sachs lifted its COIN price target to $196, citing structural growth drivers and an improving regulatory backdrop, while Needham kept a Buy rating with a new target of $200, slightly above the broader analyst crowd's average target of $194-$195.50.

The uptrend in Coinbase's stock is also attributed to its expansion efforts, including the launch of tokenized U.S. equities on its Base chain, which enables DeFi trading, lending, and borrowing in eligible non-U.S. markets.