Morgan Stanley Puts Price Target at $250 for Coinbase

Morgan Stanley has initiated coverage on Coinbase Global Inc. (NASDAQ:COIN) with an Equalweight rating and a price target of $250.00, according to a report released by the firm.

The analyst believes that Coinbase's scale, brand, liquidity, regulatory infrastructure, and product breadth position it to remain a central access and infrastructure provider as digital assets move further inside the regulated financial system.

Coinbase's Everything Exchange expands the company's opportunity beyond crypto into equities, commodities, prediction markets, pre-IPO exposure, and tokenized assets, positioning the company across the infrastructure layer.

Morgan Stanley's base case reflects a larger, more diversified, and more durable platform, but one that remains meaningfully exposed to the crypto cycle.