Summary:
- Coinbase CEO Brian Armstrong advocates for interest earnings on stablecoins to compete with inflation.
- Analysts predict an average price target for Coinbase (COIN, Financial) of $320.28, implying significant growth potential.
- Current recommendations rate Coinbase as "Outperform," reflecting positive market sentiment.
Coinbase's Push for Financial Innovation
Coinbase CEO Brian Armstrong is actively encouraging U.S. lawmakers to allow stablecoin users to earn interest. Armstrong contends that the existing restrictions, which favor traditional banks, should be relaxed. He argues that permitting interest on stablecoins would not only benefit consumers but also adhere to free-market principles. This change could potentially empower users to better tackle inflation.
Wall Street Analysts Forecast for Coinbase
According to price targets from 25 analysts, Coinbase Global Inc (COIN, Financial) holds an average target price of $320.28. This is based on a high estimate of $475.00 and a low of $185.00. The average target suggests an impressive upside of 99.49% from its current price of $160.55. For further insights, visit the Coinbase Global Inc (COIN) Forecast page.
Analyst Recommendations
The consensus from 28 brokerage firms places Coinbase Global Inc (COIN, Financial) with an average brokerage recommendation of 2.3, indicating an "Outperform" status. This rating system ranges from 1 to 5, with 1 signifying a Strong Buy and 5 representing a Sell.
GuruFocus Value Estimates
GuruFocus estimates posit that the GF Value for Coinbase Global Inc (COIN, Financial) in one year will be $187.87. This estimate suggests a 17.02% upside from the current price of $160.55. The GF Value reflects GuruFocus' calculated fair value, derived from the stock's historical trading multiples, past business growth, and projected future business performance. More comprehensive data is accessible on the Coinbase Global Inc (COIN) Summary page.
