Goldman Sachs Boosts Price Targets on Coinbase, Robinhood
Goldman Sachs, the 157-year-old Wall Street investment bank, has raised its price targets on both Coinbase Global and Robinhood Markets.
The analyst, James Yaro, increased the price target for Coinbase from $173 to $196, representing a 13% increase. This is in line with his 'cautiously optimistic' outlook for the company, driven by structural growth in brokerage and prediction markets, potential crypto trading upside, regulatory progress around the CLARITY Act, and continued cost discipline.
Yaro also raised the price target for Robinhood from $123 to $124, maintaining a cautiously optimistic view. The HOOD stock was trading at $111.06 at the time of writing, up 21% since Aug. 19.
The COIN stock, on the other hand, has seen a significant surge in value, trading at $91.35 and up 27% since Aug. 19. Goldman Sachs' new price target for Coinbase represents an upside of 115%, while the HOOD stock's new target is only an 11% increase.