Coinbase Stocks Soar as Wall Street Banks Raise Targets Amid Expansion Efforts
Coinbase Global Inc stocks have surged 11.62% as optimism over expanding crypto adoption and regulation continues to grow.
Wall Street banks, including Goldman Sachs, Morgan Stanley, and Needham, are raising their targets on COIN as the company leans into its 'Everything Exchange' vision and broader financial infrastructure role.
Coinbase is slashing fees on Coinbase Advanced to attract active traders, even if it pressures near-term margins. The company is also expanding stablecoin payment plans and partnering with Better Mortgage for a HELOC rebate, which shows COIN pushing to reduce reliance on pure trading revenue.
The SEC's limited 'innovation exemption' on tokenized stocks creates a potential new lane for Coinbase-style platforms over time.