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In recent days, Coinbase Global has attracted renewed attention after multiple major Wall Street firms upgraded the company to Buy, citing its expanded focus on crypto infrastructure and multi-asset trading, including U.S. equities, derivatives, tokenization, and prediction markets.
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Analysts argue that Coinbase’s push to become an “everything exchange,” combined with a growing share of revenue from subscription and services, could meaningfully reshape how investors view the durability and breadth of its business model.
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We’ll now examine how Coinbase’s push into multi-asset trading and infrastructure services may reshape its existing investment narrative and risk profile.
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To own Coinbase today, I think you have to believe that crypto infrastructure, stablecoins, and tokenized assets can grow into a much larger, mainstream market, and that Coinbase can remain one of its core gateways. The recent wave of Buy upgrades focuses attention on Coinbase’s shift toward infrastructure and multi-asset trading, which ties directly into the key near term catalyst: execution on these new products. At the same time, cybersecurity and data breach risks still look like the most immediate threat to the story.
Goldman Sachs’ upgrade after CEO Brian Armstrong outlined the “everything exchange” plan feels especially relevant here. It explicitly connects Wall Street enthusiasm to Coinbase’s expansion into U.S. equities, derivatives, prediction markets, and higher margin subscription and services, including its Base layer 2 network and Tokenize platform. For investors watching catalysts, this reinforces that progress on multi asset trading and infrastructure monetization is now central to how the market is framing Coinbase’s potential.
Yet investors should not overlook the ongoing cybersecurity and data breach exposure, especially given…
Read the full narrative on Coinbase Global (it’s free!)
Coinbase Global’s narrative projects $8.5 billion revenue and $2.1 billion earnings by 2028. This requires 8.3% yearly revenue growth and a $0.8 billion earnings decrease from $2.9 billion today.
Uncover how Coinbase Global’s forecasts yield a $383.46 fair value, a 56% upside to its current price.
Twenty eight members of the Simply Wall St Community currently place Coinbase’s fair value anywhere between about US$110 and US$510, with many clustered in the US$230 to US$350 range. Against that spread of opinions, the key question is whether Coinbase’s push into multi asset trading and infrastructure can offset its still meaningful reliance on trading activity for profits over time.
Explore 28 other fair value estimates on Coinbase Global – why the stock might be worth over 2x more than the current price!
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include COIN.
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