Coinbase: Expanding Product Scope and Tokenization Opportunities Create Compelling Buy-Rated Upside

Coinbase Global, the Financial sector company, was revisited by a Wall Street analyst today. Analyst Craig Siegenthaler from Bank of America Securities upgraded the rating on the stock to a Buy and gave it a $340.00 price target.

Craig Siegenthaler has given his Buy rating due to a combination of factors including product momentum, expanding addressable markets, and a more attractive valuation. He highlights that despite Coinbase’s share price falling significantly from its recent highs, the company has accelerated its product rollout and broadened its scope by moving into stock and ETF trading as well as prediction markets, reinforcing its ambition to become an all-in-one trading platform for its existing user base. He also points to the strategic importance of Base, Coinbase’s layer-2 blockchain on Ethereum, noting that a potential native token could both stimulate ecosystem development and generate substantial capital for the firm.

In addition, Siegenthaler underscores the opportunity in real-world asset tokenization via Coinbase Tokenize, which integrates issuance, custody, compliance, and distribution for asset managers seeking blockchain-based products. He observes that short interest in the stock has risen while the valuation multiple has compressed, creating a more favorable risk-reward profile relative to growth prospects, and his unchanged $340 price objective implies substantial upside from current levels. Finally, he emphasizes that crypto adoption remains in its early stages and that Coinbase, as the leading regulated U.S. platform and preferred partner for traditional financial institutions, is well positioned to benefit from long-term industry growth, especially under a U.S. policy backdrop that is currently constructive for digital assets.

In another report released on January 6, Bernstein also assigned a Buy rating to the stock with a $440.00 price target.