Goldman Sachs Targets $196 as COIN Price Hovers at 7.7% Below

COIN's price has been on the rise, sitting at $180.87 on Binance's tokenized market, roughly 7.7% below Goldman Sachs' freshly raised target of $196.

The stock is caught between two competing narratives: a bear case based on Coinbase's recent earnings misses and a bull case emphasizing its structural story.

Coinbase captured over 10% of global crypto trading volume for the first time in Q2, with market share climbing steadily from 5.6% in Q3 2025 to 9.1% in Q1 2026 and past 10% in Q2.

Goldman Sachs analyst James Yaro is looking past the Q2 wreckage and focusing on Coinbase's structural story, which includes its stablecoin and subscription segments.

The macro backdrop also adds a layer of complexity, with the Dow Jones dropping 2.5% due to poor economic reports, feeding rate-cut speculation.