Goldman Sachs Raises Coinbase Price Target to $196

Goldman Sachs raised its price target for Coinbase (COIN) from $173 to $196 while maintaining its 'Buy' rating. This decision was made based on growth in the company's brokerage and prediction markets businesses, as well as increased crypto trading activity and progress on regulatory fronts.

The current stock price of COIN is around $184.47, which represents a 2.80% increase over the past 24 hours. Goldman Sachs analyst James Yaro cited these factors as reasons for the higher target, but noted that reaching this level will depend on the performance of Coinbase's businesses and market conditions.

Other analysts have also set price targets for COIN, with Bernstein's Gautam Chhugani predicting $330 and DBS' Manyi Lu setting a target of $200. However, these estimates do not necessarily indicate that COIN will reach those levels.