Goldman Sachs upgraded Coinbase (COIN) to a 'Buy' rating, significantly raising the price target to $303 (implying 28% upside) based on confidence in the company's scale and expanding services. Following the announcement, COIN stock surged 7.77% to close at $254.92.
- The upgrade is supported by expectations of a 12% revenue CAGR through 2027, driven by strong brand strength and best-in-class customer acquisition costs.
- Analysts highlighted the success of expanding subscription services, which now contribute approximately 40% of the company's total revenue.
- Growth is further supported by the growing crypto infrastructure business and recent product launches across brokerage, banking, and wealth management.