Goldman Boosts COIN Target Amid Regulatory Hope

COIN is trading at $179.87 on Binance tokenized markets after Goldman Sachs raised its price target from $173 to $196 with a Buy rating.

The stock recovered despite a disastrous Q2 earnings report that showed a non-GAAP loss of $1.36 per share, a $359.5 million net loss, and revenue of $1.22 billion that missed the Street by nearly 6% while shrinking 18.5% year-over-year.

The CLARITY Act, which passed the House and cleared the Senate Banking Committee, is heading for a procedural floor vote in September and could be a key catalyst for the stock.

Analysts see Coinbase's diversification story as compelling, with subscription and services revenue hitting $555M (nearly 48% of total net revenue), market share in global crypto trading hitting a record 10.3%, and USDC balances on platform reaching a record $20 billion.